Insurance broker Hub International has agreed to purchase Strategic Employee Benefit Services (SEBS) of Louisiana for undisclosed amount.
Headquartered in Metairie, SEBS of Louisiana provides customized employee benefit programs and services including group medical, consumer driven benefit plans, disability insurance plans, voluntary benefit plans, individual benefit plans, long term care plans, and worksite benefit lans.
As part of this transaction, SEBS of Louisiana will become part of Hub International Gulf South (Hub Gulf South), and its executives Kevin Gardner, president and employee benefit specialist, and Mike Ford, vice president and employee benefit specialist, will join Hub Gulf South.
Hub said the new team will lead the employee benefits division of Hub Gulf South, reporting to Steve Terry, president.
Gardner said the combination of these two great companies will enable the firm to offer SEBS of Louisiana clients additional products and services that will help reduce their total cost of risk and grow their business.
SEBS of Louisiana operates from additional offices across the state including Baton Rouge and Lafayette, all of which are areas where Hub Gulf South has existing offices, and Covington and Houma.
Hub said its Hub Gulf South’s headquarters will continue to operate out of Metairie.
The acquisition is expected to close in early August and is subject to certain closing conditions.