Hub International Ltd, a portfolio company of U.S. private equity firm Hellman & Friedman (H&F), has acquired the shares of Elie, Manitoba-based Desilets Insurance Brokers Ltd, a provider of personal and commercial insurance and specializing in insurance solutions for the farming industry. No financial terms were disclosed. As a result of the deal, the Desilets’ operations will become part of HUB Manitoba. Hub, a global insurance brokerage with significant operations in Canada, was bought by H&F for about US$4.4 billion in 2013. The company has its headquarters in Chicago.
Hub International Acquires The Shares Of Manitoba-Based Desilets Insurance Brokers Ltd.
CHICAGO, March 7, 2018 /CNW/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the shares of Desilets Insurance Brokers Ltd. (Desilets). Terms of the acquisition were not disclosed.
Based in Elie, Manitoba, Desilets offers personal and commercial insurance lines and specializes in providing insurance solutions for the farming industry. Desilets’ industry-focused approach supports HUB’s recent launch of its Specialties practices. The Desilets operations will become part of HUB Manitoba.
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