HARMONIA CORRETORA ANNOUNCES AFFILIATION WITH HUB INTERNATIONAL

Top 10 Insurance Broker Expands to Latin America

Chicago Dec 13, 2011 -

Hub International Limited (Hub) announced today that Harmonia Corretora de Seguros Ltda (Harmonia), a full service insurance brokerage firm headquartered in São Paulo, Brazil, has reached an agreement with Hub to join in leading Hub’s expansion into the Latin American market. This strategic collaboration allows Hub, for the first time, to extend its physical footprint outside the U.S. and Canada.
Harmonia will become a new regional platform (hub) doing business as Harmonia Corretora, a Hub Internacional affiliate, with offices located in São Paulo, Rio de Janeiro, Campinas, Recife and Poços, Brazil. Hub and Harmonia have a long-standing business relationship stemming from both firms’ involvement in the Worldwide Broker Network (WBN). José Conduta, founder and principal of Harmonia, will join the newly formed Hub Internacional Latin America as its Chief Executive Officer. Harmonia’s management team and staff will remain with Harmonia and will be led by Priscila Lima Conduta Elias, principal and leader of Harmonia’s employee benefits who will become Hub Harmonia’s President. Neil Morrison, CEO & President of Hub Ontario/HKMB will assume the additional position of Chairman of Hub Internacional Latin America.

Established in 1981 by Mr. Conduta, Harmonia is one of the largest independent brokerage firms in Brazil, offering a broad suite of insurance solutions to , its clients, which include individuals and Brazilian and multinational companies across many industries.

“Harmonia is the first building block in developing a Hub platform in Latin America,” said Martin P. Hughes, Chairman and CEO, Hub International Limited. “Hub views this transaction as transformational for our company. We have been looking for a solid partner in Latin America, particularly in Brazil, which is one of the world’s fastest growing economies, and we are confident we have identified the right fit in José and the Harmonia family.”

“I have known José Conduta and his family for over 10 years,” said Neil Morrison. “Hub’s current working and professional experience with Harmonia has always been of the utmost integrity and good faith, and we look forward to working with the Harmonia team to expand Hub’s offerings and serve their clients with the value added resources of a top-10 global brokerage firm.”

“We have been seeking a strategic partner in North America that will give us the opportunity to expand our offerings and international capabilities, and I’m confident we’ve found the right fit in Hub,” said José Conduta. “Harmonia is proud to be the first firm to join Hub in Latin America, and I look forward to expanding Hub’s presence in São Paulo and beyond.”

Headquartered in Chicago, IL, Hub International Limited is a leading insurance brokerage that provides a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices currently located in the United States and Canada.

 

 

MEDIA CONTACTS:
José Roberto Conduta

Hub Internacional Latin America
Chief Executive Officer
Tel.: (11) 3054-4770
conduta@harmonia.com.br

Priscila Lima Conduta Elias
Hub Internacional Latin America
President
Tel.: (11) 3054-4772
priscila@harmonia.com.br

Neil Morrison
Hub Internacional Latin America
Chairman
Phone: 416.597.4612
Neil.Morrison@hubinternational.com

Daniel Goldsmith
Hub International Limited
Chief Financial Officer
Phone: 312.279.4840
Daniel.Goldsmith@hubinternational.com

 

Source: HUB International Limited