Hub International (Hub), a leading global insurance brokerage, has announced that its subsidiary Hub International Insurance Services has acquired the shares of Carlsbad Insurance Agency (Carlsbad), a Carlsbad, New Mexico-based full-service insurance brokerage firm.
Terms of the acquisition were not disclosed. The Carlsbad operations will form a new office location for Hub’s New Mexico operations (Hub New Mexico). In connection with this acquisition, Angela Johnston, President of Carlsbad, will be joining Hub New Mexico.
Founded in 1963, Carlsbad offers property and casualty, employee benefits, personal insurance and risk management to businesses and individuals located throughout New Mexico and beyond. This acquisition will strategically expand Hub’s footprint in the Southeastern New Mexico marketplace. Carlsbad has an expertise in serving the energy industry.
"Angela has developed a very successful agency in the Southeastern New Mexico market, and we are privileged to have her and her staff join the Hub team," said Randy Perkins, President, Hub New Mexico. "Under her exceptional leadership, the Carlsbad team has established an excellent reputation in their local community as a leader in their field for all lines of insurance, particularly their specialty in energy. Given the talent and professionalism of their team and strong carrier relationships they have developed, they will be an outstanding addition to our team."
"We are excited to join forces with Hub and provide our clients with the additional resources of a top ten global brokerage," said Angela Johnston, President, Carlsbad. "Our clients, who will continue to work with their existing local Carlsbad representatives, will now have access to more markets, industry specialties and other expertise through Hub’s many offerings."