Chicago-based middle-market insurance broker Hub International Ltd. on Tuesday said its Hub International Gulf South division has acquired the assets of Jackson, Mississippi-based insurance agency Fox/Everett Inc.
Financial terms of the acquisition were not disclosed.
Fox/Everett offers commercial and personal property/casualty insurance brokerage with industry specialists in health care, construction, financial services and transportation.
Fox/Everett’s four locations in Mississippi and Louisiana complement Hub Gulf South’s nine locations throughout Mississippi, Louisiana and Alabama, Hub said in a statement.
“Hub Gulf South’s combining with Fox/Everett broadens our service offerings for middle market companies, local market specialization and industry expertise,” Steve Terry, president of Hub Gulf South, said in a statement. “Our combined client base throughout the Gulf South region and into Texas and the rest of the Southeast significantly increases our ability to service a larger and more diverse middle-market customer base.”
Hub said Fox/Everett’s president, Larry Vance, will lead Hub Gulf South’s newly combined Mississippi operations and serve on the Hub Gulf South regional executive management team.
“Joining the Hub Gulf South team is an exciting step in our nearly 70 years of doing business in Mississippi,” Mr. Vance said in the statement. “Together, we bring an unmatched local market expertise with the strength and resources of Hub’s global capabilities.”
The acquisition of Fox/Everett represents Hub’s 12th completed acquisition in 2014, the company said.
Hub International is the 10th-largest insurance broker worldwide, according to Business Insurance’s latest ranking.