Hub shows no signs of slowing down on its merger and acquisition activities, collecting the commercial line book of business from an independent Ontario broker.
Hub International Limited (Hub) announced today that its Ontario subsidiary Hub International Sinclair Cockburn Limited has acquired a commercial line book of business from independent broker Lisa Cook.
“Her focus on a couple of industry verticals aligns nicely with Hub,” says Mike Tinker, executive vice president of operations, Ontario Region, Hub International. “Our mindset is on producers and senior account managers focusing on verticals that are right in the Hub wheelhouse; mid-market clients in different areas. We are quite enthusiastic about her joining us.”
Terms of the acquisition were not disclosed, but Tinker did say negotiations had been going on for several months.
Cook will join Hub’s Markham, Ont. office bringing with her a depth of experience in the region’s growing life sciences industry. She will support Hub Ontario’s regional efforts to expand its general middle-market commercial business, focusing on healthcare, manufacturing and pharmaceutical industries.
Hub International’s most recent acquisitions have included the assets of Ballard Insurance Agency in Florida, and Manitoba-based Gibson’s Insurance Agency Ltd. in July.
When asked if Hub was looking specifically at any lines of business or regions to expand, Tinker told Insurance Business that he couldn’t be specific, but that “we are always looking to round out verticals and geographies.”
Earlier in the year, Hub had purchased Free Market Insurance Agencies, LLC, an Albuquerque, N.M.-based insurance brokerage firm, with Free Market’s Albuquerque-based team relocating to Hub New Mexico’s newly-renovated Albuquerque headquarters, and Michael Dennis, President of Free Market, joining Hub New Mexico as a Client Executive, Vice President for the region.
It was the third New Mexico acquisition in the past 10 months for Hub International, which operates five offices in the state — Albuquerque, Carlsbad, Las Cruces, Las Vegas and Santa Fe.
