Global insurance broker Hub International Limited (HUB) has named Marc Cohen, currently president, as president and chief executive officer, effective January 1, 2018. He will also be a member of the board of directors. Cohen will be succeeding as CEO and continue to report to Martin P. Hughes, who will continue to serve as executive chairman, HUB.
As president and CEO, Cohen will be responsible for the financial strategy, including directing organic sales and mergers and acquisitions activity. He’ll be driving from an already strong position. HUB is forecasted to end 2017 with $2 billion in revenue, aided by a record-setting number of M&A deals and an organic growth rate of 4.6 percent through the first seven months of 2017.
Cohen has been with HUB for more than three decades. He was named president of HUB in January 2017, replacing Richard Gulliver. Cohen was previously regional president of HUB’s East region, where he was responsible for nearly tripling the region’s revenues and completing 25 acquisitions.
Cohen began his insurance career, entering the training program at HUB International Group Northeast (HUB NE), after college in 1988. He became a vice president in 1994 and a senior vice president in 1997. In 1999 he was appointed president of Program Brokerage Corp. and Claims Administration Corp., HUB NE’s wholesale insurance subsidiary and claims management divisions, respectively. Simultaneously, he was named president of Old Lyme Insurance Co. of Rhode Island, a HUB NE underwriting subsidiary that was subsequently sold. In those positions, he was responsible for all aspects of the firm’s program management and wholesale activities. In January 2004, Cohen was named president and CEO of HUB NE and Program Brokerage Corp.
As president, Cohen has been focused on growth opportunities, including employee benefits in Canada and 401(k) retirement planning in the U.S. He has also played a key role in maintaining HUB’s position as a strategic partner for carriers, wholesalers and managing general agencies.
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