Hub International has acquired Ontario-based independent insurance broker Global Credit Risk Management (GCRM).

Terms of the transaction were not disclosed.

With offices in Ontario and Alberta, GCRM offers accounts receivable and political risk insurance. The brokerage also offers advisory services to businesses, including manufacturers, commodity traders, the services sector, finance professionals, as well as to Canada’s leading banks and other financial intermediaries.

Read more: Hub International snaps up Alberta-based Wessex Financial

A company release said that, following the acquisition, GCRM will support Hub’s specialty practices, particularly within the financial institutions space. GCRM principals John Middleton, Athan Bardis and Eric Pilon and their team will join Hub Ontario and report to the Ontario leadership team.

The news follows Hub’s acquisition of the Alberta-based Wessex Financial, an independent employee benefits, life, and living benefits firm in April.