Hub International: Difference between revisions
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{{Short description|North American insurance brokerage}} |
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{{More citations needed|date=December 2019}} |
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{{Infobox company |
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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.<ref>{{Cite web|url=https://www.businesswire.com/news/home/20070225005110/en/Hub-International-Limited-Agrees-Acquired-Funds-Advised|title=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|date=2007-02-26|website=www.businesswire.com|language=en|access-date=2020-01-17}}</ref> |
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.<ref>{{Cite web|url=https://www.businesswire.com/news/home/20070225005110/en/Hub-International-Limited-Agrees-Acquired-Funds-Advised|title=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|date=2007-02-26|website=www.businesswire.com|language=en|access-date=2020-01-17}}</ref> |
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==History== |
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In August 2013, the firm was acquired by the private equity firm [[Hellman & Friedman]] for around $4.4 billion.<ref>{{cite news| url=https://www.reuters.com/article/us-hub-hellman-idUSBRE9740JZ20130805| title=Hellman & Friedman agrees to acquire Hub in $4.4 billion deal | author=Greg Roumeliotis and Tanya Agrawal | publisher=Reuters | date=5 August 2013}}</ref> |
In August 2013, the firm was acquired by the private equity firm [[Hellman & Friedman]] for around $4.4 billion.<ref>{{cite news| url=https://www.reuters.com/article/us-hub-hellman-idUSBRE9740JZ20130805| title=Hellman & Friedman agrees to acquire Hub in $4.4 billion deal | author=Greg Roumeliotis and Tanya Agrawal | publisher=Reuters | date=5 August 2013}}</ref> |
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In March 2020, Hub International Limited and Morneau Shepell Inc. announced the sale of Morneau Shepell's benefits consulting practice to Hub.<ref>{{Cite web|url=https://finance.yahoo.com/news/hub-international-acquires-benefits-consulting-133000993.html|title=Hub International acquires the benefits consulting practice of Morneau Shepell Inc.|website=finance.yahoo.com|language=en-US|access-date=2020-03-03}}</ref> Also in March, Hub International Limited announced the acquisition of assets of Linton & Associates Insurance Agency. Terms of the deal were not disclosed.<ref>{{Cite web|url=https://www.insurancebusinessmag.com/us/news/breaking-news/hub-acquires-new-mexico-agency-215944.aspx|title=Hub acquires New Mexico agency|last=Smith|first=Ryan|website=Insurance Business|language=en|access-date=2020-03-05}}</ref> |
In March 2020, Hub International Limited and Morneau Shepell Inc. announced the sale of Morneau Shepell's benefits consulting practice to Hub.<ref>{{Cite web|url=https://finance.yahoo.com/news/hub-international-acquires-benefits-consulting-133000993.html|title=Hub International acquires the benefits consulting practice of Morneau Shepell Inc.|website=finance.yahoo.com|language=en-US|access-date=2020-03-03}}</ref> Also in March, Hub International Limited announced the acquisition of assets of Linton & Associates Insurance Agency. Terms of the deal were not disclosed.<ref>{{Cite web|url=https://www.insurancebusinessmag.com/us/news/breaking-news/hub-acquires-new-mexico-agency-215944.aspx|title=Hub acquires New Mexico agency|last=Smith|first=Ryan|website=Insurance Business|language=en|access-date=2020-03-05}}</ref> |
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In October 2021, Hub International's Specialty Program Group acquired healthcare liability insurance coverage provider, CM&F Group<ref>{{cite web |title= |
In October 2021, Hub International's Specialty Program Group acquired healthcare liability insurance coverage provider, CM&F Group.<ref>{{cite web |title=Hub's SPG acquires CM&F Group |url=https://www.theinsurer.com/news/hubs-spg-acquires-cmandf-group/18592.article |website=The Insurer |access-date=1 December 2021 |language=en}}</ref> |
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==References== |
==References== |
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[[Category:Apax Partners companies]] |
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Latest revision as of 08:49, 25 December 2024
 | This article needs additional citations for verification. (December 2019) |
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 A Hub International Gillette, Wyoming | |
| Company type | Private |
|---|---|
| Industry | Insurance |
| Founded | 1998 |
| Headquarters | 300 North LaSalle St, Chicago, Illinois United States |
Number of locations | 415 (2017) |
| Products | Insurance |
| Revenue |  $1.47 Billion USD[1] (2015) |
| Owner | Hellman & Friedman |
Number of employees | 10,000 (2016) |
| Website | www |
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
[edit]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]
References
[edit]- ^ "Top insurance brokers: Hub International Ltd. - Business Insurance".
- ^ "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". www.businesswire.com. 2007-02-26. Retrieved 2020-01-17.
- ^ Greg Roumeliotis and Tanya Agrawal (5 August 2013). "Hellman & Friedman agrees to acquire Hub in $4.4 billion deal". Reuters.
- ^ "Hub International acquires the benefits consulting practice of Morneau Shepell Inc". finance.yahoo.com. Retrieved 2020-03-03.
- ^ Smith, Ryan. "Hub acquires New Mexico agency". Insurance Business. Retrieved 2020-03-05.
- ^ "Hub's SPG acquires CM&F Group". The Insurer. Retrieved 1 December 2021.
External links
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