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Hub buys two Canadian crop hail insurance companies

Posted On: Mar. 14, 2023 9:59 AM CST

Hub International Ltd. has acquired Canada-based crop hail insurance companies AG Direct Hail Insurance Ltd. and Canadian Hail Agencies Inc., for undisclosed sums, Canadian Underwriter reported. The acquisitions will help Hub expand its specialty product offerings as it continues to strengthen its Canadian agribusiness footprint. According to the Institute for Catastrophic Loss Reduction, annual crop hail damage in the country has been about $400 million Canada ($291.1 million) on average since 2013.