Global insurance brokerage and financial services firm Hub International Limited (Hub) announced its acquisition of Great Basin Insurance, Inc. The terms of the deal were not disclosed.
Great Basin Insurance, with offices in Klamath Falls and Springfield, Ore., has provided commercial insurance solutions to businesses for nearly a century. The firm has a specific focus on the agribusiness industry, which Hub said will complement and strengthen its existing Specialty practices.
As part of the transaction, Great Basin Insurance’s agency partners Dana Loreman and Bill Gilmore Jr, along with the rest of the team, will join Hub Northwest.
Following the acquisition, the firm will operate as Great Basin Insurance, a Hub International company. The company continues to expand its operations across specialty markets through acquisitions, aligning with its broader growth strategy in the commercial insurance sector.
Earlier this month, the company also announced that it purchased the assets of Otter Insurance Agency as it continues to expand in the western Washington region.
Otter Insurance Agency is a Washington state-based insurer that has been providing commercial, auto and home insurance services for more than 55 years.
Prior to that, Hub also made a deal for the assets of Fairfield County Bank Insurance Services for an undisclosed amount.
Going forward, the Connecticut-based insurance agency will be referred to as Fairfield County Insurance Services, a Hub International company. Fairfield County Bank Insurance president and chief executive Mark Connelly will join Hub New England.
The firm made a third major transaction with its acquisition of Jackson Hole Insurance announced last week.
Based in Jackson Hole, Wyo., Jackson Hole Insurance is an independent agency offering personal insurance solutions aimed at safeguarding high-net-worth individuals’ assets. The firm specializes in addressing the complex needs of individuals seeking to minimize risks to personal wealth.
Brent Irving, president of Hub Mountain States, considers Jackson Hole Insurance as "one of the premier personal lines agencies" in the region.
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