What’s behind Hub’s latest acquisition

Hub International has acquired British Columbia-based Golden Ears Insurance Services Ltd.

The acquisition will position the global insurance brokerage to build out its specialty lines, a Hub executive told Canadian Underwriter in a statement.

“Golden Ears fits well with Hub’s M&A strategy as they have a niche focus in commercial transportation business which aligns with our specialty verticals,” Carol Mills, president & CEO of Hub International Coastal, told CU.

Golden Ears offers auto, business, personal, commercial, life and travel insurance, with a specialization in commercial transportation, property and automobile fleet.

“Ranging from a one-day travel medical insurance policy to insuring multimillion dollar sports and entertainment facilities, [our] office is experienced in all aspects of insurance,” Golden Ears’ LinkedIn page reads.

The brokerage is located in Surrey, B.C., with a second office in Port Coquitlam.

“They have a proven track record of growth and deep client relationships. We will be leveraging our size, scale and diversified revenue base to bring differentiated solutions to their clients and develop new business,” said Mills.

The brokerage’s specialization in the transportation industry will complement and strengthen Hub’s existing capabilities in the commercial auto line, the brokerage explained in a press release.

“Satish Kumar, Kapil Goyal, Aman Kumar and Grant Johnson established a great firm, and their specialized expertise and commitment to client excellence, combined with our market share, people focus and infrastructure, make this an exciting opportunity for both our organizations,” Mills said of the brokerage’s management team.

Feature image by iStock.com/mikdam