Global brokerage acquires Alaskan insurance agency

Hub International Ltd., Chicago, has acquired the assets of independent insurance agency Gwaltney & Associates Inc.

Terms of the acquisition were not disclosed.

Gwaltney & Associates is an Anchorage, Alaska-based firm that provides commercial insurance, Hub said Thursday in a statement.

The president of Gwaltney & Associates, Dave Gwaltney, and the rest of staff will join Hub. Gwaltney & Associates will operate under a co-branded name, a Hub spokeswoman said Friday.

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