Hub International Ltd has bought the shares of Gamble & Associates Insurance Ltd, a full-service commercial and personal lines brokerage with offices across Southwestern Ontario. The financial details of the transaction were not published. Hub, a global insurance brokerage, said the acquisition doubles its offices in Ontario to 18. Headquartered in Chicago, Hub has been a portfolio company of U.S. private equity firm Hellman & Friedman since 2013.
PRESS RELEASE
Hub International Acquires Shares of Ontario-Based Gamble Insurance
Acquisition establishes large foothold for Hub in Southwestern Ontario and doubles Hub Ontario’s physical operations
Chicago June 2, 2015
Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the shares of Gamble & Associates Insurance Limited (Gamble). Terms of the acquisition were not disclosed. Gamble will become part of the operations of Hub International Ontario (Hub Ontario). With this latest acquisition, Hub Ontario establishes a large footprint in Southwestern Ontario, doubles its offices in Ontario to 18 locations and increases its headcount to more than 650 employees throughout the province.
Gamble is a full-service commercial and personal lines brokerage that compliments Hub Ontario’s expertise in these lines. By partnering with Hub Ontario, the Gamble team will gain access to national resources such as risk services, carrier relations and priority underwriting, as well as best-in-class operational and claims processing efficiencies.
Established in 1948, Gamble has a long history in Southwestern Ontario. The firm has nine locations with key operations in Sarnia-Lambton, Chatham-Kent and London.
Barry Hogan, President of Gamble, will join Hub Ontario as President of the new Hub Gamble division and will become part of the Hub Ontario Executive Team reporting to Robert Keilty, President and CEO of Hub Ontario.
“Southwestern Ontario is an important community to the economic development of Ontario and Hub is excited to be making the Sarnia-Lambton area a new home for our organization.” Keilty said. “Barry and his team have undergone significant growth both organically and through acquisitions and we look forward to helping them continue on that successful journey.”
MEDIA CONTACTS:
Marni Gordon
Hub International Limited
Director, Corporate Communications
Phone: 312.279.4601
Marni.Gordon@hubinternational.com
Brokerage and Banker Contact:
Clark Wormer
Hub International Limited
Director, Mergers & Acquisitions
Phone: 312.279.4848
Clark.Wormer@hubinternational.com
Photo courtesy of Shutterstock
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