Chicago-based insurance broker Hub International Limited has acquired Mones & Associates Insurance Brokers Inc., one of the largest personal and commercial insurance brokers in western and northern Canada with approximately $10 million in annual revenue, from Aviva Canada Inc.
Mones also operates under the name of Arctic Insurance Brokers Ltd in select markets. As a result of this acquisition, Hub will expand its operations to the following seven new locations in Canada: Edmonton, Calgary, Saskatoon, Prince Albert, Iqaluit, Whitehorse and Yellowknife. Terms of the acquisition were not disclosed.
Mones will become part of the Hub International Barton operation, based in Chilliwack, British Columbia.
Topics Mergers & Acquisitions Agencies Canada
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