Canada’s largest property and casualty (P&C) broker has expanded its benefits solutions range with a key acquisition.
Global brokerage Hub International has acquired the benefits consulting practice of Toronto-based human resource services firm Morneau Shepell.
The practice provides bespoke benefits solutions to a range of clients – mainly large organizations, but also small to medium sized firms. With the acquisition, Hub has boosted its strategic benefits suite by adding actuarial services to its already established offerings, which includes pharmacy plan design; total health strategies and services for physical, mental, organizational and financial wellness; retirement preparedness and plan design; benefits communications and design services; digital benefits platform solutions; and cross-border benefits consulting.
Read more: Hub swoops for Canadian agency
“Hub has been bullish on its strategy to provide comprehensive end-to-end benefits services that address the challenges Canadian employers are facing to achieve their recruiting, retention and cost management goals,” said Tina Osen, president of Hub International Canada. “With Morneau Shepell’s benefits consulting practice, Hub will deliver highly differentiated services across all five lines of our business – property and casualty, employee benefits, retirement, risk services and personal lines – to clients large and small, in-country and cross border.”
“Hub’s investment in Morneau Shepell’s benefits consulting practice rounds out our capabilities in the large and jumbo employer market, while providing additional capabilities, ranging from association products to actuarial services, that can be scaled to small- and mid-market clients,” said Mike Barone, president of employee benefits at Hub International. “This is in line with our number one goal to provide a best-in-class employee benefits experience to clients regardless of size.”
Under the terms of the acquisition, JP Girard, Morneau Shepell’s health & benefits consulting Canadian practice leader has joined Hub International as executive vice president, benefits consulting – national accounts and has been named to Hub’s Canadian employee benefits leadership team. He will remain located in Halifax, Nova Scotia, Canada and will report directly to Rob Keilty, chief executive officer of Hub International Ontario.
“On behalf of myself and the team joining Hub from Morneau Shepell, we are excited to be working alongside an extraordinary group of highly committed and talented professionals,” said Girard. “We look forward to contributing to the growth of Hub’s national employee benefits practice, broadening and expanding our services and delivering a comprehensive solution for any sized company in Canada.”
