TOTTEN INSURANCE GROUP ACQUIRES CULE INSURANCE

 

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 Add Title:  TOTTEN INSURANCE GROUP ACQUIRES CULE INSURANCE
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 Location:  Chicago
 Date:    2011-01-25  
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Hub International Limited (Hub) announced today that Totten Insurance Group Inc. (Totten), one of Hub’s wholesale insurance brokerage operations with offices across Canada, has acquired the assets of Cule Insurance (Cule), effective January 31, 2011.  Terms of the acquisition were not disclosed.  The Cule operations will become part of Totten’s Toronto office and Ken Rayner, President of Cule, will be joining the senior leadership team of Totten, reporting to H. Ross Totten FCIP, CCIB, President & CEO, Totten Insurance Group.

Cule (Canadian Underwriters for Licensed Establishments) is an insurance brokerage wholesaler located in Toronto, Ontario that works with over 100 brokers in Ontario, Manitoba and Atlantic Canada.  Formed two years ago, with a specific expertise in hospitality and hard to place property accounts, they have grown rapidly in their specialty niches.  Their commitment to serving retail brokers within the entertainment, hospitality and surplus lines property industries will now be expanded to offer the full range of products offered by Totten, including Professional Liability, Environmental, Specialty Personal lines, Protective Services, and larger limits in both Property and Casualty.

“We are very excited about this expansion of our Hospitality business and welcome Ken Rayner to our management team,” said H. Ross Totten. “This acquisition will enable Totten Group to further solidify its position as the preeminent writer of this class of business across Canada. CULE has built outstanding relationships with many brokers and we look forward to building on these relationships to expand our capabilities across the country.”

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