Hub International has acquired the assets of Sandy Spring Insurance Corporation, in Annapolis, MD.
Terms of the transaction were not disclosed.
Sandy Spring Insurance is a subsidiary of Sandy Spring Bank; it provides clients with a range of both personal and commercial insurance, including home, auto, and marine. Sandy Spring Bank itself was founded in 1868.
Following closure of the transaction, the Sandy Spring Insurance team will join Hub Mid-Atlantic.
"We are excited to welcome the Sandy Spring Insurance team to Hub," said Hub Mid-Atlantic DC Metro region president Joe Brown. "The team's caliber and depth of experience will help us continue to grow in the region and better serve our clients who trust us with their insurance and risk management needs."
“Our clients will now have access to an expanded offering of insurance solutions through Hub,” commented Sandy Spring Bank executive vice president Lou Caceres. “All of the Sandy Spring Insurance Corporation employees have been offered positions with Hub, and they will continue to provide outstanding service to their clients as they always have. I want to thank each of these employees for their contributions to Sandy Spring Bank and all of the communities that we serve.”
Last month, Hub acquired the APEX Global Benefit Management system and related assets from Alta Actuaries and Consultants. The addition of Alta’s benefits and consulting services will bolster Hub’s expertise in providing global benefits strategies, governance models, benefits management, technology, and health and wellbeing programs, the brokerage said in a statement.