Hub Acquires Assets of Maryland’s Contractor’s Services and Surety Services

Hub International Limited (Hub), a global insurance brokerage, has acquired the assets of Contractor’s Services Inc. (CSI) and Surety Services LLC (SS). Terms of the acquisitions were not disclosed.

Headquartered in Timonium, Md., CSI and SS service the construction industry by providing bid, performance, supply and payment surety bonds. Both agencies also offer several specialty programs designed specifically for wind and solar, large residential and commercial, and U.S. State Department and government and international construction.

From the placement of every type of surety bond, bond execution, financial counsel and general consultations, CSI and SS ultimately protect their clients to ensure safe and profitable growth.

CSI President Len Callahan said in a press release issued by Hub that this move will further enhance CSI’s ability to protect clients against the financial impact related to general, commercial, professional, automotive and site-specific claims.

SS President Steve Johnson added in the release that by joining Hub, SS can now offer clients insurance solutions to grow and protect their businesses, such as reducing their workers’ compensation and employee benefits costs.

Johnson, Callahan and CSI Vice President Jim Jones will join Hub Mid-Atlantic and report to Norman Breitenbach, president of Hub Mid-Atlantic.

“All of our clients will benefit from the synergies of this partnership,” said Breitenbach in the release. “Large construction projects are complex and highly competitive, often dangerous, and closely regulated. We’re excited to welcome CSI and SS, premier surety agencies, to strengthen our Hub Mid-Atlantic construction insurance solutions as we continue to expand organically and through strategic mergers and acquisitions.”

Source: Hub International Limited

Topics Mergers & Acquisitions Construction Contractors