Hub bolsters New York presence

Deal continues its rapid expansion plan

Hub bolsters New York presence

Insurance News

By Ryan Smith

Global broker Hub International Limited has announced that it has acquired the assets of Onecap Services and SATS, LLC (doing business as Preferred Services Group).

Onecap, Preferred Services Group, and their affiliate, LYNLY Health Insurance Agency, are brokerages that provide property and casualty insurance coverage and individual and group benefits products, including medical, dental, vision, life, disability and voluntary benefits. They are headquartered in Cedarhurst, N.Y., with branches in Manhattan and Tarrytown, N.Y.

As part of the transaction, principals Carey Gruenbaum and Peter Lefkowitz and their teams, including Dov Eisenberger and Eric Sussman, will join Hub Northeast, Hub said in a news release.

“We are thrilled to welcome Peter, Carey and their entire teams to Hub,” said Paul Collins, president and CEO of Hub Northeast. “For Peter, this is a homecoming, as he started his career with Hub. Now with both Peter and Carey, we strengthen our leadership team and add talent that will expand our ability to offer a best-in-class client experience supported by Hub’s resources and boundaryless capabilities.

“Our combined capabilities and experiences will enhance our offering for clients in the real estate and healthcare sectors, while bolstering the ability to make a significant impact across a broader spectrum of industries.”

“With Hub, we look forward to fueling our continued growth,” Gruenbaum and Lefkowitz said in a statement.”Hub has a strong platform with capabilities and resources to help us meet and exceed the growing needs of our clients.”

The deal for Onecap and Preferred Services Group is the latest in a string of acquisitions for Hub. Earlier this month, the global broker announced that it had acquired the assets of California-based Bolds Risk & Insurance Services and Ontario-based Zavitz Insurance and Wealth. Last month, Hub snapped up Morin Insurance Agency, a New Hampshire-headquartered firm specializing in commercial, life, employee benefits, auto, and homeowners insurance.

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