Global insurance brokerage Hub International Limited (Hub) has acquired Nebraska-based insurance brokerage SilverStone Group (SilverStone).
Terms of the transaction were not disclosed.
With SilverStone, the company creates a new regional hub to be called Hub Great Plains, which will include and cover existing operations in Omaha, Nebraska; Sioux Falls, South Dakota; and St. Paul, Minnesota.
Headquartered in Omaha, Nebraska, with additional offices in Council Bluffs, Iowa, and Sioux Falls, South Dakota, SilverStone specializes in insurance and surety, risk management, employee benefit services, retirement plans, wealth management and estate planning.
SilverStone was founded in 1945 by Howard H. “Red” & Ruth Nelson and is today a three-generation employee-owned company led by Chief Executive Officer John H. Nelson, the founders’ grandson. SilverStone has more than 4,600 employer clients and more than 3,700 individual clients, located across the United States and around the world.
The Hub Great Plains leadership team will include Nelson as president, Todd Rogge as CFO/COO, Grant Matthies as chief sales officer, Brett Sesker as group benefits practice leader, Jeff Sharp as wealth management practice leader, Glen Gahan as retirement practice leader, and John Sutton as managing director – Dakota Territories. The leadership team will work with Trey Biggs, Hub president of U.S. West.
Chicago-based Hub completed 66 acquisitions in 2018, accounting for more than $200 million in additional revenue over the past year. To date, Hub has completed 60 deals in 2019.
Source: Hub International Limited
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