Global insurance broker Hub International Limited has acquired the assets of Wyoming Financial Insurance (WYFI), the largest independently owned insurance agency in Wyoming. Terms of the transaction were not disclosed.
WYFI has nearly a dozen locations throughout the state. It provides commercial insurance, personal lines and high-net-worth/mass affluent products, employee benefits and surety bonds. WYFI specializes in several industries, including construction, healthcare, hospitality, and transportation.
“We are bringing together two elite firms in the state of Wyoming to provide the highest level of expertise and local market support to all clients,” said Rene LeVeaux, president of Hub Mountain. “We are committed to our continued growth in the region to benefit our combined clients.”
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Art Hansen, president of WYFI, Mike Kretzer, CFO, and Bob Moberly, CEO, will not be joining Hub with the acquisition. However, the rest of the WYFI team will join Hub Mountain.
“We recognized a strong strategic alignment with Hub regarding vision, entrepreneurial culture and expertise,” Hansen said. “This partnership will help realize the value of the WYFI team’s life work, continue our upward trajectory and leverage the experience, depth and breadth of resources from both firms to deliver exceptional service to clients in Wyoming.”