HUB International Limited announced today that its New York subsidiary has acquired the assets of JM Associates, Ltd. (JM), an agency that has specialized in providing casualty insurance for the elevator industry over the past 15 years. JM’s operation in Fort Lee, New Jersey, including its employees, will become part of Hub International Northeast (HUB Northeast) and will add $2.5 million in net revenue to the operation.
The acquisition of JM will provide HUB International with a national insurance program for the elevator industry, which is closely linked to the real estate industry for which HUB is already a well-established broker. The program is written with a major A+, admitted insurance company and will enhance HUB’s presence with this carrier partner.
“We are pleased to become part of HUB International and further develop our national program and speciality expertise,” said Jackie Mortman, president of JM Associates, Ltd. “We view this as a positive opportunity as we look forward to expanding our offerings and bringing more value-added services and resources to our clients.”
“We are confident that Jackie and her staff will bring experience and industry knowledge to our operation and be excellent additions to our team,” said Marc Cohen, president of HUB Northeast. “We are happy to expand our presence to Bergen County, NJ”.
Headquartered in Chicago, IL, HUBInternational 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.
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