Hub International Atlantic Ltd, a subsidiary of Hub International Ltd, has purchased a book of auto dealer business from Canadian independent broker Alliance Assurance Inc. The financial terms of the transaction were not published. Hub, a Chicago-based insurance brokerage with significant operations in Canada, has been a portfolio company of U.S. private equity firm Hellman & Friedman since 2013. Hub International Atlantic is based in Saint John, New Brunswick.
Hub International Acquires Auto Dealer Book of Business
October 20, 2014
CHICAGO–(BUSINESS WIRE)–Hub International Limited (Hub) announced today that Hub International Atlantic Ltd. (Hub Atlantic), based in New Brunswick, has acquired a book of auto dealer business from independent broker Alliance Assurance Inc. (Alliance). Terms of the acquisition were not disclosed.
Rolf Spangenberg, a producer from Alliance, will join Hub Atlantic bringing with him a depth of experience in the region’s commercial insurance market. Spangenberg will support Hub Atlantic’s regional efforts to expand its general middle-market business.
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 the United States, Canada and Latin America. For more information visit www.hubinternational.com.
Marni Gordon, 312-279-4601
Clark Wormer, 312.279.4848
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