Hub acquires New Mexico insurance brokerage Free Market

Hub International Ltd. has acquired the assets of Free Market Insurance Agencies L.L.C., a full-service commercial insurance brokerage located in Albuquerque, New Mexico.

Terms of the deal were not disclosed.

Michael Dennis, Free Market's president, will join Hub New Mexico as a client executive and vice president for the region, and the rest of his team will relocate to Hub New Mexico's newly renovated Albuquerque headquarters, according to a company statement.

Free Market has a concentration of clients in the restaurant/hospitality, construction, health care and financial services industries, providing commercial liability, property, and casualty and personal lines home and auto insurance.

Based in Chicago, Hub International is a middle-market insurance brokerage that provides property/casualty, life and health, employee benefits, investment and risk products and services through offices throughout the United States, Canada and Latin America. It was the 10th-largest insurance brokerage worldwide in Business Insurance's most recent ranking.