Hub International expands with Indiana acquisition
Hub International expands with Indiana acquisition | Insurance Business America
Insurance News
Hub International expands with Indiana acquisition
It marks the firm’s fourth deal in the span of a week
Insurance News
By
Kenneth Araullo
Hub International Limited continues its acquisition streak with GMG Group, Inc and its subsidiary, Meyers Glaros LLC. The terms of the transaction were not disclosed.
Meyers Glaros, based in Merrillville, Ind., is one of the oldest independently owned insurance brokerages, providing commercial and personal insurance, as well as employee benefits services.
Caroly Hofstee (pictured above), president and CEO of Hub Midwest East, noted that Meyers Glaros has a strong market reputation.
“From their high-performing sales team of specialists to their strong relationships with top insurance providers, they will help us continue to advance our growth strategy in the region,” Hofstee said.
Managing partners Matt Glaros and Jeff Meyers, along with the Meyers Glaros team, will join Hub Midwest East.
“Hub is the perfect strategic partner for us as we look to accelerate our growth into the future,” Glaros said. “Joining Hub will give our clients and employees greater resources, expertise and opportunities.”
Following the acquisition, Meyers Glaros will operate as Meyers Glaros LLC, a Hub International company.
Hub has recently been on a roll with its acquisitions, with the firm marking a major deal in Rosemead through its buyout of Symphony Financial & Insurance Services, led by David Lee. The company joined Hub’s Los Angeles/Orange County (LAOC) operations.
In the same week, Hub also acquired the assets of California-based Combined HCM – spanning Combined Benefits, Inc., Combined Commercial Insurance Services LLC, and Combined Employer Services Inc.
Under the deal, financial terms of which were not disclosed, Combined HCM chief executive Donny Woo, vice president of payroll Jonathan Zhao, and the rest of the team will integrate into Hub LAOC.
Hub also expanded its operations in Vermont with the acquisition of The Essex Agency for an undisclosed sum. The Essex Agency is an independent insurance agency with a focus on both personal and commercial insurance, particularly within the construction and real estate sectors.
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