California-based insurance agency HMBD offers personal, commercial and employee benefits products
Image: Hub International’s building in Markham, Canada. Photo: Courtesy of Raysonho @ Open Grid Scheduler / Grid Engine/Wikipedia.org
US-based insurance brokerage firm Hub International (Hub) has acquired California-based Hamman-Miller-Beauchamp-Deeble (HMBD Insurance Services), for an undisclosed amount.
Long Beach, California headquartered HMBD, is a full service insurance agency that offers multi-line insurance solutions, such as personal, commercial and employee benefits products to its clients. The insurance brokerage was established in 1918.
It focuses on several industries such as construction, healthcare (dental professional liability), and transportation (railroads) and will support Hub’s specialty practices by complementing and strengthening its existing capabilities.
Hub Los Angeles Regional Leader and Entertainment & Sports practice President Andrew Forchelli said: “I am pleased to welcome the HMBD team to Hub. HMBD is a solid fit with our growth strategy with proven specialized capabilities in key industries that will expand the scope of our insurance solutions. They will be a huge asset to our clients in the region.”
HMBD’s leadership team will now join Hub California
Following the deal’s closure, HMBD Insurance Services’ president Dan Roddy and Vice Presidents Todd Miller, Travis England, Jay Semaan and Glenn Agoncillo, will join Hub California.
Roddy said: “Hub’s top-tier reputation in the industry, their breadth of services and commitment to the community and growth are just some of the reasons why we’re excited about joining the firm.
“We will be well-positioned to provide total insurance and risk management solutions for all our clients’ needs.”
Last month, Hub acquired JW Retirement Group, a New York-based brokerage services and investment advisory firm. Based on Long Island, New York, the business is run by William Peragine III and John Biondo. The firm offers services to organisations under retirement plans and to wealth management clients.
The move is expected to strengthen Hub’s retirement and investment planning services by adding the talent and resources of JW Retirement Group, in developing comprehensive solutions for its clients.
Hub International is headquartered in Chicago, Illinois and offers insurance brokerage for property and casualty, life and health, employee benefits, investment and risk management products and services, with support from a workforce of more than 11,000 employees with offices across North America.