St. Andrews Insurance Brokers Ltd has sold a book of commercial lines business to Hub International HKMB Ltd, a Chicago-based insurance broker with significant operations in Canada. The financial terms of the transaction were not disclosed. Based in Vaughan, Ontario, St. Andrews is a full-service insurance brokerage. Hub was acquired in October 2013 by U.S. private equity firm Hellman & Friedman from its previous private equity owners for US$4.4 billion.
PRESS RELEASE
Hub International Acquires Book of Business From St. Andrews Insurance Brokers
Chicago May 2, 2014 –
CHICAGO –May 2, 2014 – Hub International Limited (Hub) announced today that its subsidiary Hub International HKMB Limited (Hub HKMB) has acquired a book of commercial lines business from St. Andrews Insurance Brokers Ltd., a Vaughan, Ontario insurance brokerage firm. Terms of the acquisition were not disclosed.
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 through offices located in the United States, Canada, Puerto Rico and Brazil.
MEDIA CONTACTS:
Cara Siegel
Hub International Limited
Director, Corporate Brand Management and Media Relations
Phone: 516.677.4992
Cara.Siegel@hubinternational.com
Clark Wormer
Hub International Limited
Director, Mergers & Acquisitions
Phone: 312.279.4848
Clark.Wormer@hubinternational.com
Source: HUB International Limited
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