Deal Expands HUB's Presence in Southwestern Ontario
Hub International Limited announced today that it has entered into a definitive purchase agreement to acquire the assets of Windsor, Ontario-based Unity Group Insurance (Unity). Unity has three offices in Essex County which will increase the presence of HUB International Ontario (HUB Ontario) to a total of eight offices in the following areas: Amherstburg , Essex, Kingsville, Leamington, Windsor and Wheatley.
Founded in 1999, the Unity Group is the result of an amalgamation of Paterson Insurance, Clydesdale Insurance and Windsor Essex Insurance. Unity is a general insurance brokerage that focuses on both commercial and personal insurance products and services.
“We don't view this transaction as an acquisition, but rather a merger of operations since the combination of our prominent sales and service teams will enhance our product offerings and carrier relationships,” said Dennis Pauls, President of HUB Ontario.
The proposed transaction will result in an approximately $16 million dollar southwest operation including more than 120 employees.
“Hub International will not only provide us with the opportunity to build an even more substantial organization but it also benefits our clients and business partners,” said Herb Newton, Unity's Chairman of the Board. “By joining HUB, we are adding the resources and strength of a North American brokerage which results in presenting our clients more products, more solutions and a network of expertise.”
Terms of the transaction were not disclosed.
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.