Hub scoops up Texas firm
Hub International Limited has continued its M&A spree by acquiring the assets of Commercial Insurance Brokers. The acquisition was announced Friday. Terms of the transaction were not disclosed.
Texas-based Commercial Insurance Brokers is a locally owned, independent insurance agency that provides commercial and personal insurance. Ken Foster, president of Commercial Insurance Brokers, and vice presidents Maggie Foster, Richie Grodin, and Martha Ramirez will join Hub Texas and report to Don Margo, president of Hub Texas in El Paso.
Read more: Hub continues M&A spree
The deal is the latest in a string of acquisitions by Hub. Last week, the company announced the acquisition of assets of Arizona-based Eagle American Insurance Agency and Ohio-based Preferred Benefits Agency.
Hub also recently acquired assets of Christiansen Insurance Group, a Puerto Rico-based firm that specializes in property and casualty, personal insurance, and employee benefits.