Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired certain assets of Banco Management Inc, a Halifax-based specialist in life insurance solutions. No financial terms were released for the deal, which involves Banco’s managing general agent business. Hub, a Chicago-headquartered insurance brokerage, earlier this month bought another domestic insurer, Integro (Canada) Ltd. H&F, which acquired Hub for about US$4.4 billion in 2013, is reportedly exploring the sale of an interest in the company.
Hub International Acquires The Assets Of Canadian-based Banco Management Inc.
CHICAGO, Sept. 12, 2017 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired certain assets of Banco Management Inc. (Banco Management) related to Banco Management’s managing general agent business. Terms of the acquisition were not disclosed.
Based in Halifax, Nova Scotia, Canada, Banco Management specializes in life insurance solutions.
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.
Media: Marni Gordon
M&A: Clark Wormer
Photo courtesy of Banco Management Inc