The broking giant Hub International Limited has announced its acquisition of seven related firms in Michigan.
Global broker Hub International Limited has announced its acquisition of seven related firms in Michigan. The terms of the transaction have not been disclosed.
The acquired firms include:
The firms are collectively known as Project Motown Holding Company.
The seven firms have been operating together since 2012 as members of ICA, one of the largest independent insurance brokerage firms in the state. Project Motown Holding Company is a platform agency with over 60 employees, specializing in commercial insurance, employee benefits, employer compliance requirements, HR technology, employee wellness, and wealth management services.
“This is a game-changer for us, and more importantly, for our clients in the State of Michigan,” said Caroly Hofstee, president of Hub Midwest East. “Our combined capabilities and vast experience provide clients with enormous depth of services in multiple key areas, especially in employee benefits, property and casualty, employer-sponsored retirement plans, and wealth management.”
The leadership teams of the member firms and their respective teams will join Hub Midwest East as part of the acquisition.
The Michigan agencies are the latest in a string of acquisitions for Hub. Earlier this week, the global broker announced that it had acquired the assets of EINSURANCE, a web-based, direct-to-consumer lead generation platform. In April, Hub snapped up New York state-based Brady Risk Management.
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