Hub International Ltd. has acquired two insurance brokers: Colorado Springs, Co.-based full service brokerage Baldrica & Co. and Lafayette, La.-based commercial brokerage The Tammariello Group L.L.C.
The terms of the deals were not disclosed.
Baldrica & Co. was acquired through Hub's subsidiary, Hub International Insurance Services, Colorado Operations; the Baldrica operations will become part of Hub Colorado’s existing Colorado Springs office, the broker said in a statement Tuesday.
Baldrica & Co. offers property/casualty, employee benefits and personal insurance to businesses and individuals. The acquisition will expand Hub’s presence in the southern Colorado marketplace, according to the statement.
Andrea Baldrica, the president of Baldrica & Co., will join Hub Colorado as a vice president, Hub said.
“Andrea Baldrica has developed a very successful family agency in the Colorado market, and we are privileged to have her and her staff join the Hub team,” Matt Coleman, president of Hub Colorado, said in the statement. “Beyond the additional talent and expertise they will add to our team, particularly in the employee benefits consulting arena, Andrea represents the next generation of leadership in our industry.”
Tammariello was acquired through Hub subsidiary Hub International Gulf South, and its operations will become part of Hub Gulf South's Lafayette office, according to the statement.
Mark R. Tammariello, senior vice president of Tammariello, will join Hub Gulf South, Hub said.
Tammariello offers property/casualty services with specialty expertise in serving the insurance needs of the public entity and oil and gas industries, according to the statement.
Hub International is the 11th-largest broker of U.S. business, according to Business Insurance’s latest ranking.