HUB INTERNATIONAL REINFORCES COMMITMENT TO VOLUNTARY BENEFITS WITH KEY ACQUISITION

 

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 Add Title:  HUB INTERNATIONAL REINFORCES COMMITMENT TO VOLUNTARY BENEFITS WITH KEY ACQUISITION
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 Location:  Chicago
 Date:    2011-12-05  
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Hub International Limited (Hub), a leading insurance brokerage firm, announced today that its Northeast operations have named Barbara Saxton as its Voluntary Benefits Practice leader in connection with the acquisition of the assets of VBS, LLC (VBS), a Colchester, CT-based voluntary benefits and enrollment firm. Terms of the acquisition were not disclosed. 


Ms. Saxton, President and Chief Executive Officer of VBS, and the other employees of VBS will join the newly formed Voluntary Benefits Services Inc. (Voluntary Benefit Services), a wholesale enrollment operation and wholly owned subsidiary of Hub International Group Northeast Inc., and will continue to work from their existing Colchester office. Ms. Saxton will be Senior Vice President and Chief Operating Officer of Voluntary Benefit Services and will report to Joseph Torella, President, Employee Benefits Division, Hub Northeast and National Employee Benefits Practice Leader, Hub International Limited.

Founded in 2005 by Ms. Saxton, VBS offers a wide array of voluntary benefit products and enrollment, support and communications services to their client base. Working with all major voluntary carriers, they have experienced positive organic growth every year since their inception and continually offer new products as the voluntary marketplace evolves.

This acquisition enables Ms. Saxton to expand the suite of employee benefits options she can offer, while strengthening VBS’ ability to support brokers who count on them to support the voluntary programs they develop for their clients throughout the northeast.

“We are pleased to welcome Barbara and the talented VBS team to Hub,” said Joseph Torella.

“The voluntary benefits market has seen significant growth in the past few years and we identified a select few who could partner effectively with us in this specialized niche. Barbara has done a tremendous job of working with her customers to identify the best voluntary programs for their employees, and VBS has satisfied the enrollment needs of hundreds of those customers. Given continued increases in health care costs, and confusion around Health Care Reform, meeting the individual needs of employees through voluntary and worksite offerings greatly compliments Hub’s range of employee benefits strategies. We look forward to offering our full range of solutions to our mutual clients through this effort.”

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