Hub International unit buys commercial line assets

Hub International unit buys commercial line assets | Insurance Business Canada

Hub International unit buys commercial line assets
Hub International announced Friday that its Quebec unit had purchased assets from Claude Picard.
Terms of the acquisition were not disclosed.

According to a release, Claude Picard will join Hub Quebec, “bringing with him a commercial line book of business.”

Last year, Hub International was one of the most active private-equity backed agencies in terms of mergers and acquisitions, with about 45 deals total.

Want the latest insurance industry news first? Sign up for our completely free newsletter service now.

A release said that Hub “is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.”

Hub International Quebec was founded in 2005, built over the foundations of Martin Assurance & Gestion De Risques, which it had acquired as a subsidiary. Martin Assurance was founded in 1913 and provided insurance brokerage services to commercial and individual clients. The subsidiary continues to offer property, casualty, as well as life and health insurance products and services.
Pierre Simoneau is currently the president and CEO of Hub International Quebec.

Related stories:
Insurance Agency M&As hit second highest level in Canada and US
Hub International acquires Canada’s Mainline Insurance