Chicago-based Hub International Ltd., an insurance brokerage firm, announced that it has signed a definitive agreement to acquire the assets of Byars Thompson Buchanan Insurance & Financial Services LLC, a Santa Maria, Calif.-based insurance brokerage firm. Terms of the acquisition were not disclosed.
The closing of this acquisition is expected to occur on Dec. 1, 2010, at which time BTB will become part of the California operations of Hub International Insurance Services Inc. (Hub California). The owners of BTB, Rob Buchanan, Joel Byars, Scott Dunn and Dan Thompson, will join Hub California as part of this acquisition and will report to Darren Caesar, executive vice president of Hub California.
Operating out of offices in Santa Maria and Paso Robles in California’s Central Coast, BTB was formed in 1992 through the combination of Rob Buchanan and Dan Thompson joining Joel Byars. BTB works primarily with middle market businesses across the central coast on their property and casualty and life/health insurance programs, with a niche in agriculture property and liability. Additionally, BTB has a personal lines practice.
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