Hub International Limited, a global insurance brokerage and financial services firm, announced the acquisition of the assets of R.K. Gore & Associates, an independent insurance agency based in Lehi, Utah.
The acquisition expands Hub's footprint in the residential construction insurance sector, an area in which R.K. Gore & Associates has built industry-specific expertise.
R.K. Gore & Associates, which focuses on providing insurance solutions for residential construction companies, will now operate under the name “R.K. Gore & Associates, a Hub International company.”
Robert Gore, the agency’s owner, and his team will join Hub’s Southern California and Utah divisions. Hub executives see this acquisition as an opportunity to strengthen their Specialty practice by integrating the construction-focused capabilities of Gore & Associates with Hub’s existing services.
In facilitating this transaction, MarshBerry acted as the financial advisor for R.K. Gore & Associates.
The acquisition aligns with Hub’s strategy of growth through both organic expansion and acquisitions, an approach aimed at broadening the firm’s geographic reach and expanding its industry expertise.
This strategy is integral to Hub’s approach to enhancing its service offerings, especially in niche markets like residential construction insurance.
This acquisition follows a series of other strategic moves by Hub in recent years.
In March 2024, Hub acquired assets of Bolds Risk & Insurance Services, a firm headquartered in Larkspur, California, that provides both commercial and personal insurance as well as risk management services.
This addition strengthened Hub’s reach in California’s insurance market, particularly for commercial and personal clients.
In 2022, Hub also acquired Salt Lake City-headquartered Dale Barton Agency, a brokerage specializing in commercial insurance and surety bonds. Dale Barton serves a diverse clientele, including businesses, contractors, motor carriers, subcontractors, and specialty contractors, with a focus on construction and transportation.
Headquartered in Chicago, Illinois, Hub International provides a range of services across risk management, insurance, employee benefits, retirement, and wealth management.
What do you think of Hub’s expansion in the residential construction insurance sector? Share your opinion in the comments below.
