Hub International Limited reported that the previously announced agreement to purchase the stock of Hooper, Hayes & Associates, Inc. (Hooper), a Los Angeles-based insurance brokerage firm founded in 1946, and Hooper’s wholly-owned employee benefits affiliate, Brentwood Benefits & Consultants, Inc., has been completed.
The transaction was made with a combination of stock and cash. Hooper has annual revenues of about $5.3 million.
Hooper will assume management of Kaye-Western Insurance & Risk Services, Inc., Hub’s existing retail brokerage unit in Arcadia, Calif. This will create Hub’s 10th North American “hub” brokerage center and establish for Hub a West Coast operation in the U.S. from which it can continue to grow its market share within that geographic region.
Was this article valuable?
Here are more articles you may enjoy.
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
GEICO Sues Medical Firms in Florida, NY Over Alleged No-Fault Auto Fraud 
The Future of the Agency in a World of AI 
Rotting Apple: Berkley Explains Property Market, Company Appetite 
