Hub International Ltd has acquired the assets of Firstbrook Pointon Benefits Inc, a Toronto-based employee benefits consulting company.
No financial terms were released.
Firstbrook Pointon Benefits President Bob Pointon will join Hub Ontario, while CEO John Firstbrook, who also heads John T. Firstbrook Insurance Agencies Ltd, will partner with the Hub division.
Last year, Canadian long-term private equity firm Altas Partners acquired a significant minority stake in Hub, a Chicago-based insurance brokerage, joining existing owner Hellman & Friedman.
Hub International Acquires The Assets Of Ontario-Based Firstbrook Pointon Benefits Incorporated
CHICAGO, Feb. 12, 2019 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the assets of Firstbrook Pointon Benefits Incorporated (Firstbrook Pointon Benefits). Terms of the transaction were not disclosed.
Based in Toronto, Ontario, Canada, Firstbrook Pointon Benefits is a full-service employee benefits consulting firm providing a broad spectrum of benefits programs, including health & performance, benefits plan consulting, group retirement services, executive benefits and disability management.
“We continue to build on our momentum in attracting leading employment benefits firms such as Firstbrook Pointon Benefits to help us provide our clients with an even more robust Canadian benefits solution,” said Gregory Belton, Executive Chairman of Hub International Ontario Limited (Hub Ontario). “With the world of benefits evolving and becoming more complex and integrated, it’s important for our clients to have a well-rounded benefits package in order to attract and retain high-quality talent.”
Bob Pointon, President and Managing Partner of Firstbrook Pointon Benefits, will join Hub Ontario. John Firstbrook, Founder & CEO of Firstbrook Pointon Benefits, and CEO of John T. Firstbrook Insurance Agencies Ltd., has formed a strategic alliance with Hub Ontario and will continue to play a vital role in growing the business.
The move further reinforces 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 and pension solution.
“We look forward to supporting Hub’s employee benefits and pension strategy,” said Mr. Pointon. “With more than 130,000 Property & Casualty clients, Hub has an incredible platform, which includes its thriving employment benefits capabilities, and a broad array of insurance and risk services solutions that will allow us to continue to grow and fully serve our clients.”
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 is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in 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 www.hubinternational.com.
Media: Marni Gordon
M&A: Clark Wormer