Hub International Explained

HUB International, Ltd
Type:Private
Industry:Insurance
Foundation:1998
Location:300 North LaSalle St, Chicago, Illinois
United States
Num Locations:415
Num Locations Year:2017
Products:Insurance
Revenue:$1.47 Billion USD[1]
Revenue Year:2015
Owner:Hellman & Friedman
Num Employees:10,000
Num Employees Year:2016

HUB International Limited is an insurance brokerage providing an array of property, casualty, risk management, life and health, employee benefits, investment, and wealth management products and services across North America. HUB has more than 375 offices across the United States and Canada and more than 10,000 employees. It is based in Chicago, Illinois.

HUB International was formed in 1998 with less than 300 employees and less than 50 Canadian offices. In early 2007, it was purchased by an investor group led by private equity firm Apax Partners in a going-private transaction.[2]

History

In August 2013, the firm was acquired by the private equity firm Hellman & Friedman for around $4.4 billion.[3]

In March 2020, Hub International Limited and Morneau Shepell Inc. announced the sale of Morneau Shepell's benefits consulting practice to Hub.[4] Also in March, Hub International Limited announced the acquisition of assets of Linton & Associates Insurance Agency. Terms of the deal were not disclosed.[5]

In October 2021, Hub International's Specialty Program Group acquired healthcare liability insurance coverage provider, CM&F Group.[6]

Notes and References

  1. Web site: Top insurance brokers: Hub International Ltd. - Business Insurance.
  2. Web site: Hub International Limited Agrees to Be Acquired by Funds Advised by Apax Partners and Morgan Stanley - Hub Shareholders to Receive US$40 per Share; Transaction Valued at US$1.8 Billion. 2007-02-26. www.businesswire.com. en. 2020-01-17.
  3. News: Hellman & Friedman agrees to acquire Hub in $4.4 billion deal . Greg Roumeliotis and Tanya Agrawal . Reuters . 5 August 2013.
  4. Web site: Hub International acquires the benefits consulting practice of Morneau Shepell Inc.. finance.yahoo.com. en-US. 2020-03-03.
  5. Web site: Hub acquires New Mexico agency. Smith. Ryan. Insurance Business. en. 2020-03-05.
  6. Web site: Hub’s SPG acquires CM&F Group . The Insurer . 1 December 2021 . en.