Hub acquires Texas agency Commercial
Hub International has bought Texas-based insurance agency Commercial Insurance Brokers for an undisclosed sum.
Following the deal, Commercial's management team, which is led by president Ken Foster, will remain in place and report to president of Hub Texas, Don Margo. Commercial Insurance Brokers is based in Texas.
The acquisition is the latest in a line of small agency acquisitions by Hub across the US and Canada in recent months.
In October, the broker bought independent Maryland-based agency, Bernstein Insurance, which was the company’s 19th such purchase during 2020.
Hub in recent months has also been expanding its workforce by ramping up the recruitment of staff from other brokers, and was recently tapped by Morgan Stanley to provide broking services to its high-net-worth clients.
No additional details of the transaction were disclosed.