Hub International Limited, a global insurance brokerage and financial services firm, announced its acquisition of the assets of ANCO Insurance Managers, Inc., one of Texas's independent insurance brokerages.
With its headquarters in Bryan, Texas, ANCO Insurance operates six additional offices across the state and has provided employee benefits, business, and personal insurance solutions for over 150 years.
Martin Yung, president and CEO of Hub Texas, expressed confidence that ANCO Insurance’s expertise would aid Hub’s regional growth strategy.
“With their deep knowledge and experience, and their strong long-standing relationships with top insurance carriers, they will help us continue to advance our growth strategy in the region,” said Yung.
As part of the acquisition, ANCO Insurance’s leadership, including CEO Sid Cauthorn and President Ross Gunnels, along with their team, will integrate into Hub Texas. Gunnels noted that joining Hub would accelerate the company’s future growth.
“We believe joining Hub will give our clients and employees greater cross-sell capabilities, additional resources, expertise and opportunities,” said Gunnels.
ANCO Insurance will operate under the name ANCO Insurance, a Hub International company.
The acquisition of ANCO follows Hub International’s recent moves to expand its footprint in the Texas market and beyond. In October, Hub acquired the assets of WestStar Insurance Agency from WestStar Bank, a community lender in the Borderplex region. The WestStar Insurance team will transition to Hub’s Texas division, joining other recent additions aimed at strengthening Hub’s presence in the region.
Read related story: Hub International buys assets of WestStar Insurance
Last month, Hub also announced new leadership roles intended to enhance its specialty and Western markets, appointing Lauren Melzer as chief marketing officer for specialty practices and Andrew Forchelli as executive vice president for Hub California.
Read related story: Strategic leadership changes at Hub International set to propel growth
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