HUB INTERNATIONAL ACQUIRES ADDITIONAL OPERATIONS OF PHOENIX INSURANCE GROUP

 

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 Add Title:  HUB INTERNATIONAL ACQUIRES ADDITIONAL OPERATIONS OF PHOENIX INSURANCE GROUP
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 Location:  Chicago
 Date:    2011-04-05  
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Hub International Limited (Hub), a leading insurance brokerage firm, announced today it has acquired the assets of four additional middle market agencies that operate as part of the Phoenix Insurance Group Inc. (Phoenix), a cluster partnership of various Alberta-based brokerages. Terms of the acquisitions were not disclosed.

The recently announced acquisitions include the operations of Phoenix located in Edmonton, Red Deer, Hinton and Drayton Valley and follow Hub’s purchase of the Grande Prairie operations of Phoenix in December 2010. All four acquired operations will become part of Hub International Barton (Hub Barton) within the Hub International Canada West region. Phoenix Group Risk Management Inc. is not included in these acquisitions and will continue to operate independently. The following principals will be joining Hub Barton as part of the acquisitions: Terry Stewart (Edmonton), Drew Adams (Edmonton), Doug Davis (Edmonton), Al Bean (Red Deer), Rosalie Cederstrandt (Hinton), and Laureen Bida (Drayton Valley). They will all report to Richard Burley, Vice President, Hub Barton.

These acquisitions advance Hub’s initiative to further expand its footprint in Western Canada. These brokerages, which are recognized as some of the top brokerages in the Alberta region, offer Commercial Lines, Employee Benefits, Life, Personal Insurance and Surety programs for a wide array of customers in the communities they serve. They work closely with clients in a range of industries including the construction, petroleum, forest products, manufacturing, property management, retailing, finance, transportation and recreation sectors.

“The finalization of the acquisitions of the Edmonton, Red Deer, Hinton and Drayton Valley operations of Phoenix, combined with the previous acquisition of the Grande Prairie operation, gives us a solid footing in the Alberta marketplace,” said Chad Robertson, President, Hub Barton. “We are pleased that the existing management teams will continue on with Hub and look forward to leveraging their bench strength to further our acquisition strategy in the Canadian prairies and far north.”

Headquartered in Chicago, Hub International Limited is a leading insurance brokerage providing a broad array of property, casualty, 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.

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CONTACT:

MEDIA CONTACTS:

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

Clark Wormer
Hub International Limited
Director, Mergers & Acquisitions
Phone: 312.279.4848
Clark.Wormer@hubinternational.com

 

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 SOURCE :   HUB International Limited