Hub International, an insurance brokerage company, has entered into a definitive agreement to acquire the operations of independent Manitoba brokerage Horizon Insurance.
Horizon offers insurance products and services offered through these entities include home, auto, business, farm, travel, health, life, employee benefits and private client services.
Horizon arranges insurance programs for a wide variety of industries including property management, retail, wholesale, construction/bonding, professional services, industrial/manufacturing, group programs, hospitality, fleets/trucking, agriculture, life sciences and more.
Following this aqusition, Horizon will become a new regional platform (hub) doing business as Hub International Horizon Insurance (Hub Horizon) through offices located in Manitoba.
As a part of this aqusition, Keith Jordan, president, Brent Gilbert, chief operating officer, Tony Cesario, chief sales officer, Wendy Harrison, chief financial officer and their staff will join Hub.
Hub’s Canadian operations president Jim Barton said this acquisition will establish a new Hub for the firm in Central Canada, which will give them the infrastructure to build out the Eastern Prairies across to Northwestern Ontario.
The acquisition is expected to close in the third quarter of 2011 and is subject to customary closing conditions. Terms of the acquisition were not disclosed.