Chicago June 1, 2010 -
Hub International Limited (Hub), a leading insurance brokerage firm, announced today that it has acquired the assets of Risk Transfer Insurance Alliance, LLC (RTIA), a Southborough, Massachusetts-based retail brokerage firm with offices in Shelton, CT, and Portsmouth, NH, and approximately $3 million in annual revenues. Terms of the acquisition were not disclosed. In connection with this acquisition, the RTIA team will join the HUB International New England team, and will remain based in their existing offices adding other strategic locations for Hub International New England in the region. Shawn J. McLaughlin, President, RTIA, will continue to manage the operations of this group, reporting to Michael Chapman at Hub International New England.
RTIA, an insurance brokerage firm with exclusive focus on healthcare industry clients in New England, offers commercial property/casualty coverage and related risk management consultative services with a specific expertise in medical malpractice, workers’ compensation and property insurance as well as related and emerging exposures specific to the healthcare community. Formed in 2002, RTIA is known for building comprehensive healthcare insurance programs for physician practices, hospitals, healthcare systems, continuum of care facilities, surgicenters, allied health facilities, community health centers, and managed care entities.
“We are excited to welcome Shawn and the other talented Risk Transfer Insurance Alliance employees to our team,” said Charles J. Brophy, President, Hub International New England.
“Their depth of expertise and knowledge in the healthcare industry, combined with their strong commitment to customer service, is a welcome addition to our organization. We look forward to continuing to serve their healthcare customers and providing them with value-added resources such as employee benefits, disability insurance and business overhead insurance,” he said.
Headquartered in Chicago, Hub International Limited is a leading insurance brokerage providing a broad array of property, casualty, business risk management, employee benefits, investment and wealth management products across North America. Hub is dedicated to helping businesses and individuals manage their insurance needs and plan for the unforeseen. For more information, visit www.hubinternational.com. MEDIA CONTACTS:
Hub International Limited
Chief Financial Officer
Phone: 312.279.4840 Daniel.Goldsmith@hubinternational.com
Hub International Limited
Director, Mergers & Acquisitions
Phone: 312.279.4848 Clark.Wormer@hubinternational.com
Source: HUB International Limited