Broking giant Hub International has made a move to expand its presence in the Mid-America region by acquiring the assets of Dieffenbach Benefits Group LLC, which operates under the name F.A.R.E. Healthcare.
F.A.R.E. Healthcare is located in St. Louis, Missouri and provides comprehensive group benefit packages, life insurance, and employee healthcare services. Its team, led by principal and co-founders Mollie Dieffenbach and John Byrne, are set to join Hub Mid-America as part of the deal.
“Combining F.A.R.E. Healthcare’s service reputation and network of relationships with Hub’s vast capabilities and resources establishes a major presence in St. Louis and the surrounding areas, which is a strategic focus for Hub Mid-America,” Paul Cohen, Hub president of Kansas and Missouri, said in a news release.
With the acquisition, F.A.R.E. Healthcare will operate under the name F.A.R.E. Healthcare, a Hub International company. It will be Hub’s first official office in St. Louis.
Last month, Hub made a move to grow its Northwest presence, having swooped for Washington-based firm Shinstrom & Norman. This came after it acquired Horizon Insurance, a personal insurance provider in Worcester, Massachusetts.
Other recent acquisitions announced by the global brokerage firm include South Carolina-based Golden Green, Inc., operating as Golden Corner Wealth Advisors, as well as seven related Michigan firms collectively known as Project Motown Holding Company.
Last year, chief technology officer Seth McCallister remarked on Hub’s M&A activity and called it one of the company’s “primary engines” for growth.
“We have a strong organic growth combined with our M&A and that’s what we view as our secret sauce,” he said in an interview with Insurance Business.
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