Hub International Limited has acquired the assets of William Palumbo Insurance Agency Inc., a Boston-area based retail brokerage firm. This acquisition allows Hub to expand its presence in Massachusetts, including the Cape Cod region. Terms of the acquisition were not disclosed.
Palumbo employees will now join the Hub International New England team. Previous Palumbo owners John LaRocca and Marisa Palumbo LaRocca will continue to manage the operations of this group and report to Charles Brophy, president of Hub International New England.
Headquartered in Chicago, Hub is an insurance brokerage providing property, casualty, risk management, employee benefits, investment and wealth management products across North America.
Palumbo is a brokerage offering property and casualty, personal lines, employee benefits and life insurance products and services throughout Eastern and Central Massachusetts and Rhode Island. Founded in 1932, Palumbo operates out of six locations in Massachusetts: Medfield (the headquarters office), Franklin, Attleboro, Sandwich, Cotuit and Spencer.