Hub makes third acquisition of the week

Team to join Los Angeles/Orange County operations

Hub makes third acquisition of the week


By Terry Gangcuangco

Hub International Limited has made its third acquisition this week.

The insurance brokerage and financial services company announced that Rosemead-based Symphony Financial & Insurance Services, led by David Lee, is joining Hub’s Los Angeles/Orange County (LAOC) operations following the sale of the California firm’s assets to Hub.

Under the transaction, financial terms of which were not disclosed, the employee benefits business will operate under the name Symphony Financial & Insurance Services, a Hub International company.

Earlier this week, Hub snapped up The Essex Agency in Essex Junction, Vermont. With expertise in both personal and commercial insurance, the firm is set to expand Hub’s current capabilities. As announced, The Essex Agency president David Holton and his team will be part of the group’s New England business.

Hub’s other deal this week is Combined HCM, which consists of Combined Benefits, Inc., Combined Commercial Insurance Services LLC, and Combined Employer Services Inc. Based in Diamond Bar in California, the full-service human capital management brokerage will also be merged with Hub’s LAOC unit.

With its headquarters in Illinois, Hub specializes in risk management, insurance, employee benefits, retirement, and wealth management products and services. Across North America, the company employs more than 17,000 people.

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