Hub buys New York-based brokerage

Acquisitive brokerage Hub International Ltd. on Monday said it has acquired New York-based The Rubin Group Inc.

Terms of the transaction were not disclosed.

The Rubin Group places broad commercial and personal lines coverage and targets a range of specialty sectors, including real estate, retail, construction and transportation, Chicago-based Hub said in a statement.

Michael Rubin, president of the brokerage, and other Rubin staff will join Hub International Northeast, according to the statement. “Michael Rubin and the Rubin Group will add depth and bench strength to our specialty practices and risk services,” Paul Collins, president and CEO of Hub International Northeast said in the statement.

Hub International is the world’s sixth largest insurance brokerage, according to Business Insurance’s latest ranking, and has been one of the most acquisitive brokerage firms over the past several years. The Rubin Group is family-owned and has been in business since 1989, according to its website.