Global brokerage Hub International announced last week that it has acquired the assets of an Oregon-based firm and its subsidiary.
BCI Group Inc and subsidiary Plus Point Services specialize in employee benefits, retirement benefits, life insurance and business consulting.
A spokesperson for Hub told Insurance Business that BCI is a “well respected and established brand,” that will serve as a platform to expand HUB’s presence in the Oregon and southwest Washington markets.
“BCI’s model is client-centric, the same as Hub’s model. [It] has built a solid service and consulting model that focuses on tailoring unique plans and strategies for each client,” the spokesperson said.
The acquisition will provide Hub with expanded offerings in the employee benefits space, including retirement plan consulting, third party administration and business consulting, in addition to BCI’s employee benefits consulting and brokerage business.
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BCI’s benefits technology experience will also enhance HUB’s already expanding benefits technology consulting footprint in the Northwest.
“Similar to Hub, BCI takes a holistic approach when it comes to integrating each of their business segments (benefits, retirement, TPA) into synthesized solutions for their clients,” the spokesperson said.
“BCI’s holistic consulting model is ideally suited for the integration of Hub’s well respected commercial and personal lines consulting practices.”
As part of the move, Robert (Bob) Coen, currently CEO of BCI, will join Hub Northwest and report to Tim Kennedy, executive vice president, employee benefits, Hub Northwest.
Terms of the deal were not disclosed.
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