Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired the Montréal-based property and casualty insurance book of business of Daniel Picard. No financial terms were released. Hub, a Chicago-based insurance brokerage, said the business will be folded into its Québec subsidiary. H&F bought the Canadian-born Hub five years ago from Apax Partners for about US$4.4 billion.
Hub International Acquires Select Insurance Brokerage Assets From Daniel Picard
CHICAGO, Jan. 11, 2018 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired a property and casualty insurance book of business from Daniel Picard. Terms of the acquisition were not disclosed.
Based in Montreal, Quebec, Daniel Picard’s property and casualty insurance book of business will be folded into Hub Quebec.
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 McMillan