Chicago-based Hub International Limited has acquired AssurConseil, S.E.N.C., a Montreal-based insurance broker with both general lines and trucking expertise. “The 39-employee organization will add approximately CDN$5.5 million (US$4.9 million) to Hub International’s revenue base and will become part of Hub International Quebec Limitee (HUB Quebec),” said the bulletin.
Terms of the transaction were not disclosed.
“AssurConseil and its management team are well known and highly respected in our service area, which makes this acquisition attractive on several levels,” stated Andre Soucisse, HUB Quebec president and CEO. “We look forward to working with our new partners to accelerate our expansion.”
All members of the AssurConseil Executive team will play important management roles in Hub Quebec. AssurConseil principals who will be joining HUB Quebec include Mr. Pierre Charron, Christian Chartier, Pierre Simoneau, Louis-Claude Trudel, Pierre Paquette and Robert Lorange.
“We will add new market access and product depth for AssurConseil clients as we become part of HUB Quebec, creating growth opportunities for our combined organization,” Charron commented.
Topics Mergers & Acquisitions Agencies
Was this article valuable?
Here are more articles you may enjoy.
Harvard Study Again Stirs the Pot on Demotech Ratings of Florida Carriers 
Grand Jury Indicts ‘Hole in Won’ Owner on Prize Insurance Fraud Charges 
Progressive Records Five-Fold Increase in Q1 Net Income 
Coral Gables, Florida Tops Beverly Hills as Ritziest Home Market in US 
