Hub buys specialist agribusiness brokerage

Hub International Ltd. has bought Stalco Insurance Ltd., a Canadian broker that specializes in the agricultural insurance sector.

Terms of the deal were not disclosed.

Based in Wainwright, Alberta, Stalco also places other commercial and personal lines coverage, a Hub statement said. The firm has additional offices in Provost and Kitscoty, Alberta.

Adam Doyle, chief operating officer of Stalco, will join Hub International Canada West as part of the deal, the statement said.

Hub, which has extensive operations in Canada, is the fifth largest broker globally and the seventh-largest brokerage of U.S. business, according to Business Insurance’s latest ranking.