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Member, Beacon International Group, Ltd.
Chicago-based Hub International Ltd. has created a new Hub Atlantic operation with the acquisition of the shares of Huestis Commercial Insurance Ltd., a Saint John, New Brunswick, Canada-based insurance brokerage firm.
“HCIL, which operates from three locations throughout New Brunswick and Nova Scotia, represents Hub's first acquisition in the Atlantic Provinces,” said Hub in a statement issued Monday announcing the acquisition. “The HCIL operation will be the platform for the newly formed Hub Atlantic. Paul Huestis will continue as the president of this operation and will report to Jim Barton, president of Hub's Canadian region.
“This acquisition establishes a new hub for us in the Atlantic Provinces and gives us the infrastructure to expand our presence in Atlantic Canada,” said Mr. Barton in the statement. “The team at HCIL knows their local marketplace and is ready to support our growth as we build the Hub brand across Canada.”
Hub also announced Monday that it has acquired the assets of Fort Point Insurance Services, a San Francisco-based insurance brokerage firm, and of Connor & Kelly, a Spokane, Wash.–based insurance brokerage firm.
Hub did not disclose details of any of the transactions.