Hub International Comments on Unusual Market Activity

 

Press releases

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 Add Title:  Hub International Comments on Unusual Market Activity
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 Location:  Chicago
 Date:    2002-11-05  
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Hub International Limited (NYSE: HBG and TSX: HBG), a leading North American insurance brokerage headquartered in Chicago, IL, reaffirmed the information provided in its news release regarding its third quarter results that was released yesterday evening.

The Company is aware of the unusual market activity in its stock, but knows of no corporate developments that would account for the high trading volume and downward price pressure on the stock.

Headquartered in Chicago, IL, Hub International is a leading North American insurance brokerage that has grown rapidly since its formation in 1998 through mergers, acquisitions and organic growth. It 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. Hub International's strategy is to expand its market share in the highly fragmented U.S. insurance broker industry by acquiring quality brokerages in key geographic regions serving middle-market commercial businesses, leverage its decentralized approach to differentiate its service and capitalize on its scale to provide broader product offerings to its clients through multiple distribution channels.

SAFE HARBOR

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. These forward-looking statements 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 a corresponding fluctuation 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. 

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CONTACT:
Hub International Limited
W. Kirk James 312/279-4881
kjames@hubinternational.com
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 SOURCE :   Hub International Limited