Chicago May 2, 2006 -
Hub International Limited (NYSE:HBG)(TSX:HBG) today announced the acquisition by its New York subsidiary, Hub International Northeast (HUB Northeast), of the assets of Hirsch Wolf & Co., LLC, a Brooklyn-based property and casualty insurance brokerage with special expertise in the healthcare industry. Terms of the transaction were not disclosed. Hirsch Wolf will add approximately $7 million to HUB Northeast's revenue base.
"We are delighted to bring this highly talented and motivated team of insurance professionals to our organization," said Marc Cohen, president of HUB Northeast. "Hirsch Wolf, with their unique expertise in the healthcare industry, will enable us to grow in this class of business countrywide."
The business, management, and staff of Hirsch Wolf will remain the same and continue to operate out of their existing office in Brooklyn, NY.
"I am very pleased to be associated with one of the largest, most professional insurance organizations in the country," said Hirsch Wolf. "We will now be able to access some of the most highly competitive programs and insurance markets that only the largest national brokers can offer. Our clients will be the biggest beneficiaries of this deal."
Headquartered in Chicago, IL, Hub International Limited is a leading North American insurance brokerage that provides a broad array of property and casualty, reinsurance, life and health, employee benefits, investment and risk management products and services through offices located in the United States and Canada
W. Kirk James (Media), 312-279-4881Kirk.email@example.com
Heather Schneider (Media), 312-279-4683Heather.firstname.lastname@example.org
Hub International Group Northeast Inc.
Michael P. Sabanos (Investor), 212-338-2273
Source: Hub International Limited