Hub International, a leading global insurance brokerage, announced that it has acquired the assets of First Santa Fe Insurance Services.
Terms of the acquisition were not disclosed.
With locations in both Santa Fe and Albuquerque, New Mexico, First Santa Fe specializes in providing commercial and personal insurance solutions.
First Santa Fe’s operations will become a part of Hub New Mexico and be led by Randy Perkins, President, Hub New Mexico.
"First Santa Fe Insurance has a history of being well-established in its communities, and this acquisition gives its clients access to the resources, services and network of Hub’s property and casualty, employee benefits, risk services and personal lines solutions," says Randy Perkins.
"First National is exiting the insurance business in order to focus on our core banking businesses in which we have deep expertise. We have been pleased to provide access to insurance products to our clients in Santa Fe and Albuquerque until this point, and those clients will now benefit from an expanded range of insurance offerings that are available from Hub," says John Asbury, Chief Executive Officer, First National Bank of Santa Fe, the parent of First Santa Fe.
Hub International is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.
Headquartered in Chicago, Hub provides property and casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America.