April 9, 2019 11:30
Photo : Freepik
Since the beginning of the year, the american firm global in scope Hub International has entered into no less than 16 acquisitions, both in Canada and the United States. The week of April 1st has been particularly active, with four transactions announced in four consecutive days. The terms and conditions of the transactions does, however, have never been revealed.
Transactions affect so many areas of property and casualty insurance as group insurance and fringe benefits. Among these, seven work in the first discipline, six in the second and three offer services from both sectors.
As of the date of publication, four firms that are passed in the bosom of the Hub are canadian. It is about TRG Group Benefits and Pensions, of Vancouver, Forum Risk and Insurance, Montreal, Firstbrook Pointon Benefits Incorporated, Toronto, and Del Fisher InsuranceCalgary.
Hub has revealed its strategy in the group insurance and benefits last year. The general agent wishes to achieve $ 100 million in income and commissions in the benefits by 2021. Hub has claimed to have acquired a volume of $ 20 million in 2018. For 2019, this figure has not been unveiled, but the firm said they intended to continue the momentum to achieve its goal through acquisitions and organic growth.
Last year, Greg Belton, chairman of the board of directors ofHub Ontario, had said in an interview with FlashFinance.ca that the company did not have a preference for property and casualty insurance or collective. What attracts Hub first and foremost is ” managers who are in the prime of their career and who want to join our team to play a role in the continuation of the construction of our organization “.
In may 2018, the Hub had more than 400 acquisitions in its assets.