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Chicago-based Hub International Ltd. has acquired two benefits brokerages, the Chicago-based broker announced this week.
Mobile, Ala.-based Bay Benefits will become part of the Hub International Gulf South operation. According to Hub, Bay Benefits offers a full range of employee benefits products and services, including group health plans and ancillary services, and since its inception a decade ago, Bay Benefits has experienced organic growth each consecutive year.
In addition, Hub has named Barbara Saxton as its Voluntary Benefits Practice leader in connection with the acquisition of the assets of VBS, L.L.C., a Colchester, Conn.-based voluntary benefits and enrollment firm.
Ms. Saxton, president and CEO VBS, and the other employees of VBS will join the newly formed Voluntary Benefits Services Inc., a wholesale enrollment operation and wholly owned subsidiary of Hub International Group Northeast Inc.
“Founded in 2005 by Ms. Saxton, VBS offers a wide array of voluntary benefit products and enrollment, support and communications services to their client base,” said Hub in a statement announcing the acquisition. Hub noted that VBS has experienced positive organic growth every year since its inception.
Hub did not disclose the terms of either acquisition.