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Chicago insurance broker makes West Coast buy

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Hub International Ltd. on Wednesday said it has acquired San Francisco-based Equity Risk Partners Inc.

Terms of the acquisition were not disclosed.

Equity Risk Partners is an insurance brokerage and risk management consulting firm that provides property/casualty, employee benefits, and executive liability solutions for private equity firms, Hub said in a statement.

Equity Risk CEO Michael Marcon, who will remain in San Francisco, will join Hub and report to Roy Taylor, president of Hub's Western region, Hub said in the statement.

“We are very excited to add the talents and capabilities of Equity Risk to the Hub team. Equity Risk enables us to enhance our capabilities to our existing private equity industry clients and together we bring a broader, more robust solution to the industry,” Mr. Taylor said in the statement.

Hub International is the world's ninth-largest insurance brokerage, according to Business Insurance's latest ranking.