HUB INTERNATIONAL ACQUIRES DAVIS STOKER BODIE

 

Press releases

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 Add Title:  HUB INTERNATIONAL ACQUIRES DAVIS STOKER BODIE
Subtitle:
 Location:  Los Angeles
 Date:    2003-10-03  
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Acquisition Increases California Insurance Brokerage Business
Los Angeles, CA, October 3, 2003 - Hub International Limited (NYSE: HBG and TSX: HBG)
today announced the acquisition of Davis Stoker Bodie Insurance Services, Inc. (Davis), a
Thousand Oaks, California-based general insurance brokerage. Davis will become part of Hub
International of California, Inc., the Company’s West Coast hub, based in Los Angeles.
Substantially all assets of Davis were purchased for an undisclosed amount of cash. Davis, whose
annual revenue is approximately $600,000, was formed in 1986. Lee Davis, a senior partner of
Davis, will join Hub’s California operation as a Vice President, reporting to Frank Hayes, President
of Hub International of California, Inc. Mr. Davis, who holds a BS in Industrial Management from the
University of Southern California, has been in the insurance industry 21 years.
Hub International of California, Inc. is one of 11 regional “hubs” that make up Hub International
Limited, one of the largest insurance brokerages in North America. Hub International’s growth
strategy includes the acquisition of large entrepreneurial brokerages that service primarily middle
market clients, and the expansion of these regional hubs through fold-in acquisitions of smaller,
local firms. Since January 1, 2003 Hub has made eight fold-in acquisitions, including Davis.
“We are pleased to have Lee Davis join us in California,” said Martin P. Hughes, Hub Chairman and
Chief Executive Officer. “He brings a solid book of middle-market business, and that will add
strength to our Los Angeles area and West Coast business.”
Hub International has established strong access to insurance markets in the United States and
Canada, enabling its customers to benefit from both expanded access and coverage choices
through the Hub network. As new brokerages are added to the organization, clients of these
brokerages gain the same access and resources that have helped Hub International become a
leading competitor in its markets.
Headquartered in Chicago, IL, Hub International is a leading North American 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 located in the United States and
Canada.
This press release may contain forward-looking statements which reflect our current views with
respect to future events and financial performance. These forward-looking statements relate,
among other things, to our plans and objectives for future operations and are subject to
uncertainties and other factors that could cause actual results to differ materially from such
statements. These uncertainties and other factors include, but are not limited to, risks associated
with implementing our business strategies, identifying and consummating acquisitions, integrating
acquired brokerages, attaining greater market share, developing and implementing effective
information technology systems, recruiting and retaining qualified employees, fluctuations in the

premiums charged by insurance companies with corresponding fluctuations in our premium-based
revenue, any loss of services of key executives, industry consolidation, increased competition in the
industry, fluctuations in the demand for insurance products and the passage of new legislation
subjecting our business to regulation in jurisdictions where we operate. We caution readers not to
place undue reliance on these forward-looking statements, which speak only as of the date of this
press release. Additional information regarding these risks and other factors that could cause Hub
International’s actual results to differ materially from our expectations is contained in the company’s
filings with the Securities and Exchange Commission. Except as otherwise required by federal
securities laws, Hub International undertakes no obligation to publicly update or revise any forward-
looking statements, whether as a result of new information, future events or otherwise.

 In the following box below, please add a contact information.
CONTACT:
Hub International Limited
Michael P. Sabanos
Director, Mergers and Acquisitions
PH: 212.338.2273
msabanos@hubinternational.com
Hub International of California, Inc.
Frank Hayes
President
PH: 310.826.5588
Frank.hayes@hubinternational.com
 Please, enter the source in the following box.   
 SOURCE :   Hub International Limited