PE-backed Hub International buys Global Credit Risk Management

Hub International has acquired Global Credit Risk Management, a Calgary-based provider of accounts receivable and political risk insurance.

Hub International has acquired Global Credit Risk Management, a Calgary-based provider of accounts receivable and political risk insurance. No financial terms were disclosed. Hub, a Chicago-based insurance broker, is backed by Hellman & Friedman and Altas Partners.

PRESS RELEASE

CHICAGO, June 3, 2021 /PRNewswire/ — Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired Global Credit Risk Management Inc. (GCRM). Terms of the transaction were not disclosed.

With a national presence and offices located in Ontario and Alberta, Canada, GCRM is an independent broker of accounts receivable and political risk insurance. They provide accounts receivable insurance and advisory services to businesses, including manufacturers, commodity traders, the services sector, finance professionals, and to Canada’s leading banks and other financial intermediaries. GCRM joining Hub supports its Specialty Practices, including Financial Institutions, by complementing and strengthening Hub’s comprehensive and in-depth offering to all industries, banks, lending institutions and investment firms.

The principals of GCRM, John Middleton, Athan Bardis and Eric Pilon, and their team will join Hub Ontario and report to the Ontario Leadership Team.

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 risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 13,000 employees in offices located throughout North America, Hub’s vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, please visit www.hubinternational.com.