Hub International Ltd., the Chicago-based insurance brokerage, announced it has acquired the shares of Desilets Insurance Brokers Ltd.
Terms of the acquisition were not disclosed.
Based in Elie, Manitoba, Desilets offers personal and commercial insurance lines and specializes in providing insurance solutions for the farming industry. The Desilets operations will become part of HUB Manitoba.
Desilets’ industry-focused approach supports Hub’s recent launch of its Specialties practices, the company said.
“At Hub we see a direct correlation between specialization and improved client retention and new growth, both of which are key elements of organic revenue,” said Marc Cohen, CEO and president of Hub International, in a statement issued in February when Hub launched its Specialties practices.
Hub’s first Specialty practices include Transportation, Financial Institutions, Entertainment/Sports, Construction, Agriculture, Hospitality, Real Estate and Healthcare.
Source: Hub International
Related:
Hub International Acquires Ontario-Based GMS Insurance
Topics Mergers & Acquisitions Agencies
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