Hub International Ltd., a Chicago-based insurance brokerage, has acquired the assets of Gemini Group Inc., a Denver-based employee benefits broker and consultant. No financial terms were disclosed. Hub was taken private in 2007 for $1.8 billion by Apax Partners and Morgan Stanley Principal Investments.
Hub International Limited (Hub) announced today that it has acquired the assets of Gemini Group, Inc. (Gemini), a Denver, Colorado based employee benefits broker and consultant. Terms of the acquisition were not disclosed.
Gemini’s operations will combine with Hub’s existing Denver operations as part of Hub International Southwest, to create one of the largest employee benefits broker and consultant in Colorado. The combined employee benefits operations, together with Hub’s existing property and casualty and personal lines brokerage practices in Denver, will operate from Gemini’s current office.
Gemini was formed in 2002 by Rod Regalado, George Issaeff and Danny Talley as a merger of their individually owned brokerages. Mr. Regalado will now assume responsibilities as Hub’s Employee Benefits Practice Leader for Colorado and Messrs. Issaeff and Talley will continue serving as Senior Consultants and Brokers working with key clients.
Tom Hartley, President of Hub’s Southwest operations, commented that “the addition of Rod, George and the other Gemini professionals to our Colorado team expands our prestigious list of clients and significantly strengthens our employee benefits capabilities. In addition, we look forward to applying the resources of both our commercial property & casualty and personal lines practices to provide comprehensive solutions for their clients.”
Rod Regalado added, “All of us at Gemini are very excited about joining Hub International, one of the fastest growing and, we believe, the most client-focused broker in North America. I look forward to leading the Colorado employee benefits team in applying expanded service capabilities for clients and realizing the significant growth opportunities for Hub in the region.”
Headquartered in Chicago, IL, Hub International Limited is a leading North American insurance brokerage that provides a broad array of property and casualty, reinsurance, life and health, employee benefits, investment and risk management products and services through offices located in the United States and Canada.