PE-backed Hub acquires ProCorp Financial


Hub International Limited, a global insurance brokerage, has acquired Ottawa, Ontario-based ProCorp Financial, a boutique benefits and retirement consulting firm. No financial terms were disclosed. Hub is backed by Altas Partners and Hellman & Friedman.

PRESS RELEASE

CHICAGO, Oct. 4, 2019 /CNW/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired ProCorp Financial Inc. (ProCorp Financial). Terms of the transaction were not disclosed.

Based in Ottawa, Ontario, Canada, ProCorp Financial is a boutique benefits and retirement consulting firm, specializing in estate planning, group benefits, life insurance, critical illness insurance, disability insurance and others.

“We are thrilled to welcome Hugh and the ProCorp Financial team to Hub,” said Gregory Belton, Executive Chairman of Hub International Ontario Limited (Hub Ontario). “ProCorp Financial has a comprehensive array of product offerings that are well aligned to further expand our employee benefits solutions in Canada.”

Hugh Doyle, President of ProCorp Financial, will join Hub Ontario and report to Matt Lievers, President of Employee Benefits & Retirement, Hub Ontario.

The move continues to reinforce Hub’s ongoing Canadian employee benefits growth and services strategy to expand its best-in-class employee benefits and retirement solution to address the challenges clients are facing, including in retirement.

“What I found most compelling about Hub is their continued growth and strategy to provide the highest quality of employee benefits and pension solution to clients,” said Mr. Doyle. “We are excited to help in this effort as we will provide clients with greater support while building an enhanced service experience for them.”

About Hub’s M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit WeAreHub.com.

About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit www.hubinternational.com.