Hub International Gulf South division (Hub Gulf South) of Hub International, a global insurance brokerage, risk advisory and employee benefits firm, has purchased the assets of Fox/Everett, as part of its growth strategy in Mississippi, Alabama and Louisiana.
Hub noted that combination of these two brokerage firms further strengthens its continued efforts to expand in both Mississippi and the larger Gulf South region.
Fox/Everett operates as an independently owned commercial and personal property & casualty insurance brokerage with industry specialists in healthcare, construction, financial services and transportation.
Additionally, the acquired entity also offers services pertaining to the employee benefits, third party administration and retirement plan consulting & administration.
Commenting on the deal, Hub Gulf South president Steve Terry said: "Hub Gulf South’s combining with Fox/Everett broadens our service offerings for middle market companies, local market specialization and industry expertise.
"Our combined client base throughout the Gulf South region and into Texas and the rest of the Southeast significantly increases our ability to service a larger and more diverse middle market customer base."
Fox/Everett president Larry Vance will serve as president of Hub Gulf South’s newly combined Mississippi operations, which include existing offices in Ridgeland, Hattiesburg and Oxford. Vance will also serve on the Hub Gulf South regional executive management team.
Vance commented: "Joining the Hub Gulf South team is an exciting step in our nearly 70 years of doing business in Mississippi. Together, we bring an unmatched local market expertise with the strength and resources of Hub’s global capabilities."
Hub, which has an ambitious plan to build a network of local insurance and risk management experts throughout North America, said that the Fox/Everett transaction represents its 12th completed acquisition in 2014.
Earlier in May, Hub International Insurance Services acquired the shares of New Mexico-based full-service insurance brokerage firm Carlsbad Insurance Agency (Carlsbad).
Chicago-headquartered Hub International offers 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 Mississippi’s Fox/Everett.Photo courtesy of PinkBlue/FreDdigitalPhotos.net.