Hub acquires employee benefits brokerage

Hub International Ltd. on Tuesday said it has acquired the assets of Tenth Dot Benefit Solutions L.L.C., which does business as Gateway Financial, an employee benefits agency affiliated with Gateway Financial Group Inc.

Terms of the deal were not disclosed. The Pittsburgh-based firm provides employee benefits consulting and brokerage services.

The new business will operate under the name Gateway Benefits, a division of Hub International, according to the statement. Founder and president Tony Perricelli will join Hub's wholly owned affiliate, The HDH Group Inc., as executive vice president, while Bill Gallagher, managing consultant, will join Hub/HDH as market leader and senior vice president of the combined employee benefits practice, according to the statement.

David Malone, president and CEO of Gateway Financial Group, and his team will continue to work with Gateway Benefits and Hub/HDH.

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