City National Bank, headquartered in Charleston, W. Va., has sold its insurance operations, CityInsurance, to Richmond, Va.-based The Hilb Group. City National’s parent, City Holding Co., said the sale was effective Jan. 1.
Under the agreement, James Myers will remain president of CityInsurance. The insurer will continue to operate from City National’s offices in the Charleston area and a branch in Beckley.
The Hilb Group is a middle market insurance broker with 12 offices in seven states.
City Holding President and CEO Charles Hageboeck said the company’s board of directors decided CityInsurance would be more successful under an organization dedicated solely to the insurance business.
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