Insurance giant Hub International has purchased an Nebraska-based insurance company.
Chicago-based Hub International has purchased BW Insurance Agency, a subsidiary of Bank of the West, according to a report by the Omaha World-Herald. BW Insurance offices in Omaha, North Platte, Alliance, and Rushville, Nebraska, will be rebranded and absorbed into Hub International’s regional operations, the World-Herald reported.
BW Insurance contributed more than $30 million to Bank of the West’s bottom line in 2014, according to the World-Herald.
Martin Hughes, chairman and chief executive of Hub International, called the insurance agency “an ideal fit” for the company.
“Our services and industry focus are very complementary, and their operations broaden our geographic footprint in states where we are already located, as well as provide new penetration in other states,” Hughes said in a release about the acquisition. The terms of the deal were not disclosed.
BW Insurance has more than 40 offices in nine states in the upper Midwest and offices in California and Oregon, the World-Herald reported.
Hub International is one of the world’s largest insurance brokers, with more than 250 offices in the U.S. and Canada.
