Chicago January 10, 2013 -
Hub International Limited (Hub) announced today that it has acquired Intercare Insurance Solutions, Inc.(Intercare), a San Diego, California-based insurance brokerage firm. Terms of the acquisition were not disclosed. Intercare will become part of the California operations of Hub International Insurance Services (Hub California). Mike Barone, President and CEO, will join Hub, reporting to Kirk Christ, President, Hub California.
Intercare offers a broad array of employee benefits consulting and brokerage services in addition to property and casualty and 401(k) retirement plan consulting. Headquartered in San Diego, with another location in Irvine, California, Intercare is known for its specialized insurance products that allow midsized companies to provide innovative benefits to their employees. The company has received national recognition for corporate wellness and cost containment strategies developed by Intercare's key employees, including Mike Barone and John Kahle, Chief Wellness Officer, and David Duenas, Senior Vice President, each of whom will also be joining Hub.
This acquisition represents Hub California's goal to expand its footprint and further build its employee benefits and wellness consulting practice locally.
"Intercare is one of the most well respected companies in employee benefits in the West Coast," said Roy Taylor, President, Western Region, Hub International Limited. "Mike Barone and his team are dynamic thinkers and recognized as industry leaders, especially in the employee benefits and corporate wellness disciplines. We plan to expand Intercare's successful platforms to clients in other parts of the country and are extremely happy to have Intercare join the Hub family. They are a welcome addition, not only to our local benefits team, but will contribute a great deal to our national employee benefits strategy."
"We are delighted to be joining Hub International," said Mike Barone. "With Hub International's breadth and depth of resources, we are able to greatly expand the services and resources we offer clients. This will increase in importance as employers prepare for the impacts of new healthcare legislation."
About Hub's M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise. For more information on the Hub M&A experience, visit www.WeAreHub.com.
About Hub International
Headquartered in Chicago, IL, Hub International Limited is a leading global insurance brokerage that provides property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States, Canada and Latin America. For more information visit www.hubinternational.com.
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Source: HUB International Limited