Hub International Limited Announces the Acquisition of Assurance Dumas & Associés Inc.(1)

 

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 Add Title:  Hub International Limited Announces the Acquisition of Assurance Dumas & Associés Inc.
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 Location:  Chicago
 Date:    2001-01-04  
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Hub International Limited and Blais Insurance & Risk Management Inc. of Quebec City, a subsidiary of Hub International Limited, announce the acquisition of Assurance Dumas & associés inc., a third generation insurance brokerage firm located in St-Félicien, Quebec. The transaction was effective of January 1, 2001. Assurance Dumas joins Hub International and is now well positioned to enhance its presence in the region.

“Hub welcomes the entrepreneurial insurance professionals at Assurance Dumas whose vision has allowed them to develop enhanced services for their clients", said Mr. Gaston Ferland, a principal with Blais Insurance & Risk Management Inc., which is responsible for Hub broker development in Eastern Quebec. Mr. Ferland went on to say: "The professional brokers at Assurance Dumas will act as a catalyst in creating a dynamic and accessible environment that will ensure businesses and individuals in the region continued access to the know-how of an insurance brokerage that has international relationships."

"We have found a partner with fundamental values that respects the autonomy of its principals and who offers what we need to achieve our goals", said Mr. Yves Dumas, President of Assurance Dumas. "Our brokers gain access to international insurers as well as a full spectrum of financial products. I am very proud that our company's brokers will now be able to draw upon the expertise of a decentralized international group that is strongly focused on entrepreneurship and high quality service."

“We are keeping our focus on essential values: matching high quality professionals with clients. That strategy is appreciated by our business partners, insurers and financial institutions, who support our clients with their changing needs in Canada and abroad”, said Mr. Gaston Ferland.

The transaction brings the total annualized premium volume of Hub International in Quebec to approximately $100 million.

Hub International Limited is an international insurance brokerage that provides a broad range of property, casualty, life and health, employee benefits, investment and risk management products, with annualized premium volume of more than one billion dollars and offices in over 100 Canadian locations as well as in Chicago and Boston, USA. HUB International’s common shares are listed on the Toronto Stock Exchange (HBG).

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CONTACT:
 W. Kirk James, V.P. and General Counsel
Hub International Limited 416-979-5866
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 SOURCE :   Hub International Limited