Chicago-based insurance broker Hub International Limited has acquired the shares of Sinclair Cockburn Financial Group (SCFG), a Toronto, Ontario-based insurance and financial services firm with approximately $11 million in annual revenues.
Hub acquired the property/casualty, personal insurance and group/life insurance operations of SCFG but not SCFG’s mortgage and mutual fund business.
Jim Aston, Kelly Sinclair, and Jim Grieve, SCFG’s three majority shareholders, will all join Hub as part of this transaction. The company said that Jim Grieve, president of Sinclair Cockburn Financial Group, will become part of Hub Ontario’s leadership team, reporting to Neil Morrison, president and CEO, HKMB Hub International Limited.
Established in Toronto in 1953, SCFG reports having 15,000 customers throughout Canada. In addition to its Toronto headquarters, it also operates out of Pickering, Ontario. The brokerage specializes in a number of areas, most notably a professional liability unit focused on architects and engineers. Other practice areas include construction, surety, and national programs (horticultural trades, dairies, non-profits and other retail programs). The personal insurance division includes a private client practice group.
Topics Mergers & Acquisitions Agencies
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