Global insurance brokerage Hub International’s subsidiary has purchased the assets of Argus Insurance, a Washington-based full-service insurance brokerage firm, as part of its ongoing expansion strategy.
Purchased by Hub International Northwest, Argus’s operations in Yakima, Sunnyside, Moses Lake and Ellensburg will join Hub Northwest as new satellite offices.
Hub believes that the deal will advantageously strengthen its footprint in the Eastern Washington marketplace, enabling Hub to boost its presence within key Washington industries such as agriculture.
Under the terms of the takeover, all Argus shareholders, sales and service personnel will be absorbed by Hub Northwest.
Jeff Barrom will join the Hub Northwest executive management team as executive vice president in Central Washington, while Brian Roberts will join Hub Northwest as vice president of operations in Central Washington.
Furthermore, John Teske will join the Hub Northwest executive management team as chief operations officer, and will oversee all regional insurance services operations.
Argus was established in 1983 through the merger of several Yakima-based agencies, and the company provides property and casualty, employee benefits and personal insurance to businesses and individuals across Central Washington.
Commenting on the deal, Hub Northwest president and CEO Andy Prill said, "We are excited to bring Jeff and his talented team into our growing Hub Northwest family.
"In discussions with our carrier partners, Argus is considered a leading brokerage in the Eastern Washington market. They share many key aspects of our culture around client service with integrity and sustainable and profitable growth through employee engagement."
Hub International delivers property and casualty, life and health, employee benefits, investment and risk management products and services in the US,, Canada, Puerto Rico and Brazil.
Image: Hub International purchases assets of Argus Insurance.Photo courtesy of scottchan/FreDdigitalPhotos.net.