Hub International acquires two regional agencies

Chicago-based Hub International Ltd. has acquired the assets of Washington-based Lovsted-Worthington Insurance as well as the assets of New Mexico-based Shofner, Lynch & Shulse L.L.C.

The terms of both deals were not disclosed.

Shofner, Lynch & Shulse will continue to operate in Alamogordo, New Mexico. Lovsted-Worthington will become part of the Hub International Northwest operations which operates from 20 locations in Washington, Hub International said in a statement.

Shofner, Lynch & Shulse and Lovsted-Worthington will have co-branded names with Hub International, according to the statement.

Carl Lovsted III, CEO of Lovsted-Worthington, will join Hub Northwest as executive vice president serving on the region's leadership team and overseeing the Lovsted-Worthington operations in Seattle and Chehalis, Washington, according to the statement.