Canadian insurance broker Hub International Ltd. announced the completion of its acquisition of Kaye Group, Inc., the U.S. property/casualty and benefits broker.
Hub, which is 41 percent owned by Canada’s Fairfax Financial Holdings Ltd., plans to integrate Kaye’s operations into its own structure. It will have “over 100 offices throughout Canada and the United States, including Baltimore, Boston, Chicago, Cleveland, Dallas, Denver, New York, California, Connecticut and Rhode Island.”
Bruce D. Guthart, Kaye’s Chairman and CEO will take over as President of U.S. operations for Hub.”The merger with Hub is an exceptional opportunity,” Guthart stated. “I expect the staff at Kaye to benefit from their association with our Hub colleagues and to contribute to strengthening Hub’s competitive position in the industry.
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