Deal Expands HUB's Presence in Southwestern Ontario
CHICAGO, June 25 /CNW/ - Hub International Limited announced today that
it has entered into a definitive purchase agreement to acquire the assets of
Windsor, Ontario-based Unity Group Insurance (Unity). Unity has three offices
in Essex County which will increase the presence of HUB International Ontario
(HUB Ontario) to a total of eight offices in the following areas: Amherstburg
, Essex, Kingsville, Leamington, Windsor and Wheatley.
Founded in 1999, the Unity Group is the result of an amalgamation of
Paterson Insurance, Clydesdale Insurance and Windsor Essex Insurance. Unity is
a general insurance brokerage that focuses on both commercial and personal
insurance products and services.
"We don't view this transaction as an acquisition, but rather a merger of
operations since the combination of our prominent sales and service teams will
enhance our product offerings and carrier relationships," said Dennis Pauls,
President of HUB Ontario.
The proposed transaction will result in an approximately $16 million
dollar southwest operation including more than 120 employees.
"Hub International will not only provide us with the opportunity to build
an even more substantial organization but it also benefits our clients and
business partners," said Herb Newton, Unity's Chairman of the Board. "By
joining HUB, we are adding the resources and strength of a North American
brokerage which results in presenting our clients more products, more
solutions and a network of expertise."
Terms of the transaction were not disclosed.
Headquartered in Chicago, IL, Hub International Limited is a leading
North American insurance brokerage that provides a broad array of property and
casualty, reinsurance, life and health, employee benefits, investment and risk
management products and services through offices located in the United States
For further information:
For further information: Hub International Limited W. Kirk James Vice
President, Secretary and Chief Corporate Development Officer Phone:
312.279.4881 email@example.com or Heather Schneider Corporate
Communications Director Phone: 312.279.4683