Hub International has acquired 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.
“Fairfield County Bank Insurance Services complements and further strengthens our existing capabilities in the region,” Hub New England president and CEO Shawn McLaughlin said.
B.H. Burke & Co. served as financial adviser to Fairfield County Bank Insurance.
This transaction is the latest in a series of acquisitions by the insurance giant.
In November, the company acquired the retail insurance brokerage business of Western Growers Insurance Services. A month earlier, it bought the assets of Texas-based WestStar Insurance Agency and South Carolina-based Creative Financial Strategies. In September, it acquired assets of Flexible Benefits Plans in Pennsylvania.
Hub International has said that it is committed to growing organically and through M&A to expand its footprint and strengthen its expertise.
Aside from these acquisitions, the company also expanded its partnership with CyberCube that will integrate the latter’s software to enhance Hub’s cyber risk analytics capabilities for clients across North America. It also previously announced its partnership with MAS Seguros, Mexico’s largest trucking insurance broker.
There have also been several leadership moves at the company. Lauren Melzer joined Hub as chief marketing officer for specialty practices in October, while Andrew Forchelli is set to become executive vice president for Hub California on Jan. 1.
“Hub has a stellar reputation in the market,” Connelly said in the statement announcing the Fairfield County Bank Insurance acquisition. “We are excited to join Hub and work with talented individuals to help grow and expand our resources and services for our clients.”
