Hub International Gulf South, an insurance broker, has acquired Pickett & Adams Insurance Agency. Pickett & Adams' operations will become part of Hub Gulf South. Terms of the transaction were not disclosed.
Spencer Adams III, the CEO of Pickett & Adams will now join Hub as the executive vice president and report to Steven Terry, president of Hub Gulf South. The agency will remain at its current location.
Mr Terry, president of Hub Gulf South, said: This purchase allows Hub International to move into Alabama with a quality agency that provides an excellent base for future expansion in the region. This acquisition will provide us with opportunity for growth in many areas of our business, particularly with marine insurance due to the strategic location of this office.