By Michael P Tremoglie
Chicago’s
Hub International Limited (Hub) announced August 4 that it has acquired BW Insurance Agency, Inc. (
BWIA), a wholly-owned subsidiary of Bank of the West.
BWIA is a multi-line P&C, personal and employee benefits insurance brokerage. It has more than 40 offices in Colorado, Iowa, Minnesota, Nebraska, North and South Dakota, Oregon and Wyoming.
The company is the 14th largest bank-owned insurance brokerage in the US, and specializes in agriculture, real estate, energy, transportation and construction. It has experts in executive and professional liability, workers' compensation and personal insurance solutions.
Employees staying with Hub will either remain in existing locations that will become new Hub offices or relocate to nearby existing Hub regional offices, the company said in a press release. BWIA’s CAO, Wayne Dauwen, will join Hub as chief operating officer, in the Fargo, North Dakota office. Bruce Gaughan, finance manager, and other BWIA regional sales and operations leaders also will join Hub.
“BWIA is an ideal fit for Hub. Our services and industry focus are very complementary and their operations broadens our geographic foot print in states where we already are located, as well as provides new penetration in other states,” said Hub international chairperson and CEO Martin Hughes in a prepared statement.
BWIA’s regional carrier relations and will benefit by national carrier relations Hub has with both commercial, personal and employee benefits carriers. Hub said this new reach will expand BWIA’s ability “to offer more competitive and industry leading insurance products to its customers.”
