Hub International goes shopping

Hub International Limited, the Chicago-based parent of Hub Financial, has acquired the assets of Phoenix Insurance Group Grande Prairie Inc., an Alberta-based insurance brokerage and part of the overall Phoenix Insurance Group.

The firm will become part of Hub International Barton (Hub Barton) within the Hub International Canada West region. The three partners of the firm, Bruce George, Mark Marcotte and Elizabeth Fiegehen, will stay on and report to Richard Burley, vice-president of Hub Barton.

“Phoenix Insurance Group Grande Prairie is a perfect strategic acquisition to strengthen Hub’s positioning in the Western Canadian Marketplace,” said Chad Robertson, president and CEO of Hub Barton. “We welcome Bruce, Mark, Liz and their team of dedicated insurance professionals, who will be a great addition to the Hub Barton family of employees. As the first of several acquisitions within Phoenix in 2011, this group will significantly enhance Hub’s presence in the Alberta region.”

Hub has also signed letters of intent to acquire other operations within Phoenix, including Edmonton, Red Deer, Hinton and Drayton Valley. These transactions are expected to take place in the first quarter of this year.

Hub International also announced that it has acquired Venice, Florida-based Farr Insurance Group, which will become a part of Hub International Northeast Limited. The principals of the firm, Latimer and Cindy Farr, will join Hub.

“Farr is a terrific addition to Hub’s existing presence in the Southeastern U.S.,” said James P. Kane, president, Hub International Personal Insurance. This acquisition represents the continual growth of Hub in this region. We welcome the professionals at Farr to our team and look forward to serving their customers.”