Hub International buys two firms

Chicago-based Hub International Limited has announced a pair of acquitisions in the Canadian market, through two of its local subsidiaries.

Hub Financial, the Canadian-based managing general agency and subsidiary of Hub International Limited, has completed the acquisition of Best Advice Financial Services, based in Toronto.

The purchase adds over 100 servicing brokers to the Hub stable and strengthens Hub’s relationship with Industrial Alliance, which is the primary insurance carrier for Best Advice.

“We are extremely pleased to join with the impressive group from Best Advice,” said Terri DiFlorio, president and CEO, Hub Financial. “I am confident that their strong affiliation with Industrial Alliance, and core relationships they have built with many brokers in Ontario, will greatly enhance Hub Financial’s operations.”

Hub International also announced the acquisition of Norac Intermediaries an insurance brokerage wholesaler focused largely on property and casualty insurance, in Montreal.

The deal was made by Hub subsidiary, Totten Insurance Group, and the transaction makes Totten one of the largest intermediaries in Quebec.

“We are very excited to welcome Gino Vaisica and the Norac team to the Totten Group of Companies and Hub International,” said H. Ross Totten, FCIP, CCIB, president and CEO, Totten Insurance Group, Inc. “They have built outstanding relationships with many brokers across Quebec and we look forward to expanding our capabilities in serving the insurance community in the province.”

The combined companies will provide expanded casualty insurance offerings to the 2,000 brokers.

(04/03/09)