Hub International Limited, a global insurance brokerage and financial services firm, has acquired the assets of Wycoff Insurance Agency, a locally owned insurance provider based in Mount Vernon, Washington.
The terms of the transaction were not disclosed.
Wycoff Insurance offers commercial and personal insurance products. As part of the deal, president Chris Eisses, vice president, secretary and treasurer Donnie Keltz, and the full Wycoff team will join Hub Northwest. The agency will now operate as Wycoff Insurance Agency, a Hub International company.
Eisses stated that the move allows the firm to access the broader capabilities of a global brokerage while continuing to serve clients and the local community.
Clearlake Consulting served as financial advisor to Wycoff Insurance.
The acquisition is one of several recent transactions by Hub as it continues to expand its geographic reach and strengthen its service offerings across key sectors. The firm has publicly stated that it plans to pursue both organic growth and acquisitions as part of its broader strategy.
Hub also recently acquired the assets of Fenner and Esler Agency Inc., based in Oradell, New Jersey. Established in 1923, Fenner & Esler provides professional liability and risk management services to clients in the architecture, engineering, surveying, and environmental sectors. Terms of that transaction were also not disclosed.
In another recent transaction, Hub acquired the assets of Fifth Avenue Insurance Agency, an Oklahoma City-based firm. Guy Feist, president of Fifth Avenue, has joined Hub Mid-America following the acquisition. Feist has more than 25 years of experience in the healthcare insurance space and has been involved in the development of a technology-driven risk-purchasing platform.
Travis Biggert, president of Hub Mid-America, said the acquisition would enhance Hub’s capabilities in the area of medical professional liability coverage, offering clients expanded market access and pricing options.
Hub’s acquisition activity follows a $1.6 billion minority equity investment that raised its enterprise valuation to $29 billion, the highest recorded for a private insurance brokerage. The investment was led by funds and accounts managed by T. Rowe Price Investment Management, Inc., Alpha Wave Global, and Temasek, with participation from new and existing investors.
