Insurance brokerage and financial services firm Hub International Limited has announced its acquisition of Wade Associates, LLC’s assets for an undisclosed sum to enhance Hub’s specialty practices by bolstering its current capabilities and expertise.
Wade Associates, an independent insurance agency based in North Carolina, operates in Davidson, New Bern, Raleigh, and Wilmington. The firm provides a broad range of insurance and risk management solutions, specializing in sectors such as construction, manufacturing, healthcare/life sciences, and technology.
Tim Smith, president of Hub Carolinas, emphasized the strategic significance of the acquisition. “Adding Wade Associates to Hub underscores our strategic focus of continuing to grow in the region with specialists who have a deep understanding of insurance and risk management,” he stated. “Together, we will continue to expand our capabilities and deliver exceptional results for our clients.”
Read more: Hub makes third acquisition of the week
The president of Wade Associates, Cheryl Nabell (pictured), along with her team, will integrate into Hub Carolinas. Nabell expressed enthusiasm about the merger, stating: “Joining Hub with its expansive breadth and depth of resources and expertise is an exceptional opportunity that positions us to better serve our clients.”
Following the acquisition, Wade Associates will operate under the name Wade Associates, LLC, a Hub International company.
The deal comes on the heels of Hub acquiring the assets of commercial insurance agency McClements Insurance Services, LLC.
At the time, Hub Central & Northern California president and chief executive Darren Caesar noted: “We are excited to have the McClements team’s expertise on our team. Adding them to our team further enhances the services we offer to clients regarding their complex employee benefit matters.”
With headquarters in Chicago, Hub employs more than 18,000 people in offices throughout North America.
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