Hub buys Wisconsin brokerage

Acquisitive brokerage Hub International Ltd. on Monday said it has acquired the assets of Waukesha, Wisconsin-based property/casualty and employee benefits brokerage Integrated Risk Solutions Inc.

Terms of the transaction were not disclosed.

Integrated Risk specializes in risk management consulting, commercial insurance, employee benefits, loss control engineering and claims management, Chicago-based Hub said in a statement. Integrated Risk has more than 20 employees, according to its website.

Tom Precia, co-founder, president and CEO of Integrated Risk, and Pete Aisbet, co-founder and executive vice president of the company, will join Hub Midwest and report to Lerone Sidberry, CEO of Hub Midwest, Hub said in a statement. Mr. Precia will become CEO of Wisconsin operations.

Integrated Risk has provided compliance and risk management advice to clients in the construction, manufacturing, transportation, hospitality, retail and public entity industries which support Hub’s specialty business, the statement said.

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