Hub, A History

HUB's Timeline

1998
Eleven Canadian brokerages merge to form HUB International, Limited.

HUB posts net earnings of $1.7 million on revenue of $38.7 million.

1999
Company raises $65.9 million through private placements and an initial public offering in Canada.

HUB common shares begin trading on the Toronto Stock Exchange under the symbol HBG.

2001
HUB moves corporate headquarters to Chicago.

2002
U.S. initial public offering raises $88.1 million as HUB lists on the New York Stock Exchange under the ticker symbol HBG. Listing on the Toronto Stock Exchange is maintained.

2004
HUB acquires and integrates seven brokerages, including the $100 million (revenue) Talbot acquisition.

2006
HUB's market capitalization (total shares x price/share) passes $1 billion for the first time. HUB raises $114.9 million in a secondary offering of common shares.

HUB acquires three trucking insurance specialty agencies (Kaufman & Kaufman, Coburn Insurance and Bart Proud Insurance) forming HUB Transportation Insurance Services, Inc.

2007
HUB acquires the assets of one of the largest Louisiana-based insurance brokers, Hibernia Insurance Agency, LLC, an $18 million revenue brokerage firm that will become a new regional platform (hub) doing business as HUB International Gulf South (HUB Gulf South).

HUB acquires Totten Insurance Group Inc. (Totten), a Canadian specialty insurance wholesaler that develops niche products and provides solutions for unusual lines of business. Totten aligns with The Wholesale Insurance Group (TWIG) to become one entity.

HUB acquires The Rigg Group, Inc., one of the largest Texas-based insurance brokers, adding $35 million to the revenue base and forming a new regional HUB (HUB International Rigg) with offices located in Dallas, Fort Worth and Houston.

HUB is acquired by Apax Partners together with Morgan Stanley Principal Investments.

2008
HUB acquires HKMB International Insurance Brokers (HKMB), adding 250 employees and $40 million to the revenue base. This transaction forms a new regional HUB in Toronto, Ontario.

HUB acquires Scheer's, Inc., one of the largest privately-owned retail insurance brokerages in the United States specializing in surety bonds.

2009
HUB acquires the renewal rights to Liberty Mutual’s middle market commercial property and casualty business in Arizona, Arkansas, California, Colorado, Hawaii, Kansas, Louisiana, Nebraska, Oklahoma, Utah and Texas.