Hub Acquires Assets of Canadian Broker Phoenix Grande Prairie Group
Hub International Limited announced that it has acquired the assets of Phoenix Insurance Group Grande Prairie Inc., headquartered in the Canadian Province of Alberta. Hub explained that “Grande Prairie is one of several Alberta-based firms that make up the Phoenix Insurance Group. Terms of the acquisition were not disclosed.”
“In connection with this transaction, Grande Prairie will become part of Hub International Barton within the Hub International Canada West region. The three partners of Grande Prairie, Bruce George, Mark Marcotte and Elizabeth Fiegehen, will join Hub Barton as part of this acquisition, reporting to Richard Burley, Vice President of Hub Barton.
“On December 21, 2010, Hub announced that they have signed letters of intent to acquire other operations within Phoenix, including Edmonton, Red Deer, Hinton and Drayton Valley, in the first quarter of 2011. ”
Grande Prairie was established in 1999. It specializes in commercial and personal lines programs for a wide array of customers, with a niche in oil and gas production, an area of targeted expansion for Hub Barton.
Hub Barton President and CEO Chad Robertson, commented: “Phoenix Insurance Group Grande Prairie is a perfect strategic acquisition to strengthen Hub’s positioning in the Western Canadian Marketplace. We welcome Bruce, Mark, Liz and their team of dedicated insurance professionals, who will be a great addition to the Hub Barton family of employees. As the first of several acquisitions within Phoenix in 2011, this group will significantly enhance Hub’s presence in the Alberta region.”
Source: Hub International Limited
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