Hub Financial Inc, a subsidiary of Hub International Ltd, has purchased the assets of Cortex Financial Inc, a managing general agency based in Thornhill, Ontario. The value of the acquisition was not released. Hub, a U.S. insurance brokerage, said the deal expands its Canadian footprint and its reach to financial advisors and insurance brokers. The Cortex acquisition comes close on the heels of Hub’s recent buy of Western Canada’s Progressive Home Warranty and Pacific Home Warranty. Based in Chicago, Hub is a portfolio investment of U.S. private equity firm Hellman & Friedman.
Hub International Acquires Assets from Cortex Financial
April 06, 2015
CHICAGO–(BUSINESS WIRE)–Hub International Limited (Hub) announced today that its subsidiary Hub Financial Inc. (Hub Financial) has acquired the assets of Cortex Financial, a Thornhill, Ontario-based managing general agency. The acquisition broadens Hub Financial’s footprint in Canada and its reach to financial advisors and insurance brokers seeking multi-fund insurance and risk solutions while maintaining their independence. The business will be managed out of Hub Financial’s Woodbridge, Ontario office.
About Hub’s M&A Activities
Hub International is committed to growth through organic efforts and acquisitions. It continues its aggressive pace of identifying and acquiring entrepreneurial brokers that are dedicated and focused on providing local market specialization, while at the same time looking to leverage the resources and tools of a global brokerage. For more information about Hub’s M&A activities visit www.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 through offices located in North America. For more information visit www.hubinternational.com.
Contacts
Hub International Limited
Media: Marni Gordon
312-279-4601
Marni.gordon@hubinternational.com
or
M&A: Clark Wormer
312-279-4848
Clark.wormer@hubinternational.com
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