H&F’s Hub buys brokerages for employee benefits platform
Hub International Ltd has acquired Optimum Group Benefits & Insurance Services Ltd of Coquitlam, British Columbia and Wm. W. Hammond Insurance Agency Inc of Leamington, Ontario. No financial terms were released for the deals, which bring Hub's acquisitions of Canadian employee benefits brokerages since January to seven. Hub, a Chicago-based insurance company, said the transactions will help it build a complete mid-market employee benefits platform in Canada. It expects the platform to reach $100 million in revenue by 2021 through acquisition and organic growth. Hub was acquired in 2013 by U.S. private equity firm Hellman & Friedman (H&F) for about US$4.4 billion.
9 July 2018•4 mins read
