Hub International Limited has acquired certain assets of Resource Insurance Services (RIS) related to RIS’s force-placed auto and lender-placed mortgage and real-estate owned (REO) operations. Terms of the transaction were not disclosed.
Texas-based RIS specializes in providing lender-placed insurance programs to financial institutions. RIS’s focus on financial institutions supports Hub’s specialty practices by complementing and strengthening their existing capabilities, Hub said.
Don Brooks, CEO of RIS, will join Hub Financial Services and will report to Scott Eckerty, president of Hub Financial Services.
RIS is the latest in a string of acquisitions for Hub. Last week, the global brokerage announced that it had acquired the assets of South Dakota-Based First Western Insurance Agency.