Hub International Limited has snapped up the assets of Flexible Benefits Plans (FBP) for an undisclosed sum.
Headquartered in Valley Forge, Pennsylvania, FBP provides brokers with advanced services, resources, and access to insurance carriers. This allows clients to enhance the effectiveness of employee benefit programs.
With over two decades of expertise, FBP focuses on areas such as human resources technology, strategic planning, carrier access and support, benefits administration, and renewal management.
Thomas Olejar, FBP’s president and chief executive, along with the entire FBP team, will integrate with Hub’s Greater Philadelphia operations.
Hub Greater Philadelphia president Dennis O’Neill commented: “We are excited to welcome Tom Olejar and FBP to our growing team in Hub Greater Philadelphia.
“FBP’s reputation and experience will significantly bolster our employee benefits footprint in the Philadelphia marketplace.”
Following the acquisition, FBP will operate under the name Flexible Benefits Plans, Inc., a Hub International Company.
The deal comes on the heels of Ilana Shulman’s appointment as chief compliance officer at the insurance brokerage.
“Ilana is a strategic business partner, trusted advisor, and wonderful addition to our legal and compliance team,” John Albright, Hub’s chief legal officer, noted in August.
“She has extensive experience working in the highly regulated healthcare sector, as well as corporate governance, commercial contracting, license arrangements, compliance/ethics, and public affairs/policy.
“Her expertise will further Hub’s ability to successfully navigate the ever-changing business and regulatory landscapes.”
Meanwhile recent Hub acquisitions include Insurance Management Company and Southern Colorado Insurance.
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