PE-backed Hub acquires the MGA business of Ivari

Chicago-based insurance broker Hub International has acquired the life insurance product managing general agent business of Toronto-based Ivari.

Chicago-based insurance broker Hub International has acquired the life insurance product managing general agent business of Toronto-based Ivari. No financial terms were disclosed. Hub is a portfolio company of Hellman & Friedman and Altas Partners.

PRESS RELEASE

CHICAGO, July 2, 2020 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the life insurance product managing general agent business of ivari. Terms of the transaction were not disclosed.

Headquartered in Toronto, Ontario, Canada, ivari has a national network of thousands of independent advisors that provide a full range of life insurance products designed to help Canadians make the right choice for their protection needs. The brokers and business done through ivari’s company offices will join Hub Financial Inc., a subsidiary of Hub (Hub Financial).

ivari’s strategic refinement of resources will allow ivari to further support independent advisors and existing partnerships, a move that will strengthen their position in the marketplace as a mid-market insurance provider and offer growth opportunities in the future.

Hub Financial combines extensive sales training and coaching with industry-leading back office support and exceptional technology to provide financial advisors and insurance brokers with access to development tools and education while maintaining their independence and self-governance. With offices in 15 cities across Canada, Hub Financial is one of Canada’s largest distributors of life insurance and investment solutions to advisors with the convenience of local support and the security of national scope and size.

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 12,000 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.