Global insurance brokerage Hub International Limited has announced the acquisition of The TAMRAC Group, a Maryland-based insurance firm. Terms of the transaction were not disclosed.
TAMRAC specializes in personal and commercial insurance. The company focuses on providing insurance for businesses in the auto service and repair, cannabis, food, and hospitality industries. The acquisition supports Hub’s recent launch of its specialty practices by complementing and strengthening Hub’s existing services, the company said.
Keith Erdman, president of TAMRAC, will join Hub Mid-Atlantic. He will report to Norman Breitenbach, president of Hub Mid-Atlantic.
TAMRAC is the second Maryland-based company among Hub’s recent acquisitions. Last week, Hub announced the acquisition of Annapolis-based Insurance Management Associates, a full-service personal and commercial insurance agency.
