WestStar Bank, a community lender in the Borderplex region, has sold the assets of WestStar Insurance Agency to Hub International.
Based in El Paso, WestStar Insurance specializes in business insurance, employee benefits, and personal insurance solutions. The WestStar Insurance team will transition to Hub’s Texas division, which is also located in WestStar Tower.
L. Frederick Francis (pictured), executive chairman of WestStar Bank, had this to say about the deal, financial terms of which were not disclosed: “We are excited about partnering with Hub International. This transaction will ensure that WestStar Bank’s customers continue to have access to world-class insurance products and services.
“In addition, WestStar Insurance’s employees will have a great new home where they can continue to serve the bank’s customers and provide new products and services.”
Don Margo, Hub’s area president for West Texas pointed to the brokerage’s expansion via the swoop.
“We are pleased to welcome the WestStar Insurance team and to expand our existing presence in West Texas,” said Margo. “We have known the WestStar Insurance team for many years and are certain that they will be a terrific addition to our client coverage, service, and insurance expertise.”
Earlier this week, Hub announced its latest move in Missouri, where the group brought in Associated Insurance Group to expand its Mid-America operations.
An independent agency in Maryland Heights, Associated Insurance Group specializes in both commercial and personal property and casualty insurance. The acquisition marks Hub’s second swoop in the St. Louis area within the past year.
Other new developments at Hub include its partnership with MAS Seguros, Mexico’s largest trucking insurance broker. The exclusive referral and broker program spans the US, Canada, and Mexico, supporting businesses engaged in cross-border operations throughout North America.
Through the partnership, clients of both Hub and MAS Seguros will gain access to a comprehensive network of insurance, risk management, and claims experts, as well as legal referrals in all three countries.
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