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Hub buys hospitality and real estate broker Dadgar Insurance

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Hub International Ltd. has acquired the assets of Woburn, Massachusetts-based Dadgar Insurance Agency Inc., Chicago-based Hub announced Wednesday.

Terms of the transaction were not disclosed.

Dadgar is an independent multiline insurance brokerage that has “extensive knowledge and deep experience in the hospitality and real estate industries focused on restaurant insurance and habitational insurance,” Hub said in a statement. Dadgar currently provides coverage to more than 500 restaurants and 1,500 landlords and apartment building owners throughout Massachusetts and New England, according to the statement.

The statement added that Dadgar’s “focus on the real estate and hospitality industries supports Hub's specialty practices by complementing and strengthening Hub's existing solutions.”

Anowsh Dadgar, president of Dadgar Insurance, will join Hub New England and report to Charles Brophy, U.S. East regional president of Hub.

Hub International is the world’s sixth-largest insurance broker, according to Business Insurance’s latest ranking.