Hub Worldwide Ltd. has enhanced its private and business insurance coverage capabilities with the acquisition of Drayton Valley Insurance coverage Company, Ltd. in Alberta.
Chicago-headquartered Hub introduced the acquisition of the brokerage primarily based in Drayton Valley, Alta. in a press launch Thursday. Phrases of the transaction weren’t disclosed.
The impartial insurance coverage brokerage is a household owned enterprise that has been serving the Drayton Valley group and neighborhood for greater than 40 years. It gives quite a lot of insurance coverage merchandise, together with private property (dwelling, seasonal dwelling, private umbrella, home based business insurance coverage, passion farm and watercraft), auto (private passenger car, bike and leisure car) and business (auto and fleet, D&O, bonds, restore garages and farm), amongst others.
Hub says Drayton Valley Insurance coverage Company proprietor Dale Jones and his workforce will be a part of Hub Prairies. The brokerage might be known as Drayton Valley Insurance coverage Company, a Hub Worldwide firm.
Hub’s newest acquisition comes on the heels of its announcement that it has appointed 30-plus year industry veteran Carol Murphy as North American Casualty Follow Chief. Murphy will lead the additional growth of Hub’s casualty follow, strengthening its strategic options to deal with present and rising shopper wants throughout a broad vary of industries and exposures.
“Persevering with to spend money on Hub’s business traces technical capabilities stays central to our progress technique,” Chris Treanor, Hub’s president of packages and specialties, says in a Feb. 18 assertion.
Hub’s most up-to-date Canadian acquisition concerned Saskatchewan-based farm insurance coverage brokerage and parametric options firm, International Ag Danger Options. Hub announced the acquisition of International Ag Danger Options Corp. and International Ag Climate Options Corp., referred to as Parametric Ag (collectively International Ag Danger Options) on Nov. 5, 2024.
Headquartered in Moose Jaw, Sask., the agency is a managing normal company for Aviva Canada, Canadian Underwriter reported final November. It offers full-service farm options, together with parametric insurance coverage and climate modelling know-how to assist shoppers shield the price of crops and their revenue.
Characteristic picture by iStock.com/Cecilie_Arcurs
