Hub acquires broker’s auto book

Although Ontario auto insurers may be lamenting their current lot in life, Hub International is eager to expand its auto clientele in Canada’s Atlantic region.

Motor & Fleet

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Although Ontario auto insurers may be lamenting their current lot in life, Hub International is eager to expand its auto clientele in Canada’s Atlantic region.

Hub announced that New Brunswick’s Hub International Atlantic Ltd. has acquired a book of auto dealer business from independent broker Alliance Assurance Inc. in Grand Falls, N.B.

Terms of the acquisition were not disclosed.

Rolf Spangenberg, a producer from Alliance, will join Hub Atlantic bringing with him a depth of experience in the region’s commercial insurance market, according to a statement from Hub.

Spangenberg will support Hub Atlantic’s regional efforts to expand its general middle-market business.

Hub continues to be aggressive in its acquisition and merger activities throughout North America.

In September, Ontario subsidiary Hub International Sinclair Cockburn Limited has acquired a commercial line book of business from independent broker Lisa Cook.

Other recent acquisitions have included the acquisition of assets of Ballard Insurance Agency in Florida, and Manitoba-based Gibson’s Insurance Agency Ltd. in July.
Prior to that, Hub had purchased Free Market Insurance Agencies, LLC, an Albuquerque, N.M.-based insurance brokerage firm, with Free Market’s Albuquerque-based team relocating to Hub New Mexico’s newly-renovated Albuquerque headquarters, and Michael Dennis, President of Free Market, joining Hub New Mexico as a Client Executive, Vice President for the region.

It was the third New Mexico acquisition in the past 10 months for Hub International, which operates five offices in the state — Albuquerque, Carlsbad, Las Cruces, Las Vegas and Santa Fe.
 

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