Hub buys South Dakota-based brokerage
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Hub International Ltd. on Thursday said it has acquired the assets of independent insurance agency First Western Insurance Agency Inc.
Terms of the transaction were not disclosed.
Rapid City, South Dakota-based First Western provides multiline insurance, including personal, commercial and employee benefits for a range of industries such as agribusiness, construction, health care and transportation, Hub said in a statement.
First Western, with about 50 staff, will support Hub’s specialty practice by strengthening its capabilities, the acquisitive brokerage said.
Kyle Prewitt, president of First Western, will join Hub International Mountain States Ltd. and report to Rene LeVeaux, president of Hub Mountain, the statement said.
Chicago-based Hub is the world’s sixth-largest insurance brokerage, according to Business Insurance’s latest ranking.
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