Hub Acquires Nevada, Florida Agencies

September 2, 2010

Hub International Limited (Hub) has acquired two insurance agencies in the Nevada and Florida.

Hub acquired the assets of McFadden Insurance Agency Inc. (McFadden), a Las Vegas–based firm. Terms of the acquisition were not disclosed. The McFadden team will become part of Hub International Insurance Services, Southwest Region.

Bernie Trujillo and Greg Pike, the owners of McFadden, and the McFadden employees joining Hub will remain in their current office location. Pike will lead the new Hub Las Vegas operations.

Founded in 1981, McFadden is a full-service insurance agency, offering business and personal insurance, as well as employee benefits programs. This acquisition represents the first location for Hub in the Las Vegas region, an area in which Hub is focused on strategic growth.

Hub also acquired the assets of Florida Federal Insurance Company (FFIC), a Boynton Beach, Fla.-based personal and commercial insurance brokerage firm. Terms of the acquisition were not disclosed. As part of the transaction, the FFIC operations will become a part of Hub International Northeast Limited.

Makram (Mike) Kamel, owner and founder of FFIC, will transition his accounts to Hub and work with the firm moving forward as a referral source of new business opportunities. The FFIC team will continue to maintain a presence at its current location in Boynton Beach, Fla., while its customer service will be integrated into Hub’s existing office in Plantation, Fla.

Founded in 2006, FFIC focuses on personal lines insurance, primarily homeowners’ and automobile insurance, for customers throughout the South Florida region. Additionally, it also arranges commercial insurance programs. FFIC specializes in providing coverage alternatives for difficult to place risks such as properties located along the Florida coast.

The addition is in line with Hub’s efforts to further expand its presence in the Southeastern U.S.

Source: Hub International Limited, www.hubinternational.com

Was this article valuable?

Here are more articles you may enjoy.