Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired Mainline Insurance Brokers Inc, an association of insurance brokers operating in Southeastern Saskatchewan. No financial terms were disclosed for the deal, which includes Mainline affiliates. Hub, a global insurance brokerage with significant operations in Canada, will integrate the acquired business with Hub Manitoba. Chicago-based Hub was bought by H&F for about US$4.4 billion in October 2013.
Hub International Acquires Canadian-Based Mainline Insurance Brokers Inc., Indian Head Agencies, R&J McKay Agencies Ltd. and Cathedral Insurance Services Ltd.
January 04, 2017
CHICAGO–(BUSINESS WIRE)–Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired Mainline Insurance Brokers Inc., Indian Head Agencies (1980) Ltd., R&J McKay Agencies Ltd. and Cathedral Insurance Services (1995) Ltd. (Mainline). Terms of the acquisition were not disclosed.
Based in Southeastern Saskatchewan, Canada, Mainline has 16 offices throughout the province and is a property and casualty and personal lines insurance solutions provider. Doug Trapp, CEO, Mainline, will join Hub Manitoba and report to Keith Jordan, President, Hub Manitoba.
“We are excited to expand our geographic footprint into Southeastern Saskatchewan. The Mainline partners have built a tremendous organization of insurance professionals and experts. The partners of Mainline have been very community focused, and developed great relationships that Hub will continue to grow,” said Jordan.
Trapp said, “The Mainline team is extremely excited to join forces with Hub. Hub’s reputation and operating philosophy were important factors in our decision to align with them. As part of Hub, we’ll draw upon the resources and expertise of an international insurance brokerage while retaining our commitment to local client and community service.”
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, IL, Hub International Limited is a leading global insurance brokerage that provides property and casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America. For more information, please visit hubinternational.com.
Hub International Limited
Media: Marni Gordon
M&A: Clark Wormer
Photo courtesy of Hub International Ltd