Hub International Ltd has acquired Clearwater Insurance Group Inc, a Toronto-based provider of insurance solutions to clients through customized programs and proactive health services.
No financial terms were disclosed for the deal, which will see President Alexander Eaton join Hub Ontario.
The deal follows Hub’s acquisition last week of Access Insurance Brokers Inc, an Ottawa-based provider of personal and commercial insurance solutions.
Terms weren’t released. Access Insurance’s co-owners will join Hub Québec.
Hub, a Chicago-based full-service insurance company, was bought in 2013 by U.S. private equity firm Hellman & Friedman (H&F) for about US$4.4 billion.
Hub International Acquires Ontario-Based Clearwater Insurance Group Inc.
CHICAGO, Sept. 10, 2018 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired Clearwater Insurance Group Inc. (Clearwater Insurance). Terms of the transaction were not disclosed.
Headquartered in Toronto, Ontario, Clearwater Insurance delivers innovative insurance solutions to clients through customized programs and proactive health services. Alexander Eaton, President of Clearwater Insurance, will join Hub Ontario reporting to Curtis McCone, President, Wealth Management and Employee Benefits, Hub Ontario.
The move further demonstrates Hub’s ongoing Canadian employee benefits growth and services strategy to assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits solution.
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, Illinois, Hub International Limited (Hub) is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. From offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions. For more information, please visit hubinternational.com.
Media: Marni Gordon
M&A: Clark Wormer