BANGOR – The Dunlap Corp., a 150-employee insurance firm based in Auburn, has merged with a Richmond, Va., insurance company.

The merger, which took effect Feb. 1, folds Dunlap into the Hilb, Rogal and Hamilton Co. (HRH), the nation’s seventh-largest insurance company. The exact terms of the deal were not released, but HRH obtained control of the company by purchasing Dunlap’s outstanding shares.

Michael McInnis, Dunlap’s regional vice president, said that current employees will be retained and the company will keep its name. The merger, McInnis said, will provide access to new markets and capital for the expansion of Dunlap’s products and services.

Dunlap is one of the three largest insurance firms in New England, and maintains five offices in Maine, New Hampshire and Connecticut. HRH employs more than 2,200 employees in more than 70 offices nationwide.