Hub International, an insurance brokerage firm, has acquired the assets of Canada-based insurance brokerage firm Phoenix Insurance Group Grande Prairie.
In connection with this transaction, Grande Prairie will become part of Hub International Barton within the Hub International Canada West region.
As part of the acquisition, three partners of Grande Prairie Bruce George, Mark Marcotte and Elizabeth Fiegehen will join Hub Barton, reporting to Richard Burley, vice president of Hub Barton.
Hub also signed letters of intent to acquire other operations within Phoenix, including Edmonton, Red Deer, Hinton and Drayton Valley, in the first quarter of 2011.
Grande Prairie arranges commercial and personal lines programs for a wide array of customers, with a niche in oil and gas production, an area of targeted expansion for Hub Barton.
Hub Barton president and CEO Chad Robertson said that Phoenix Insurance Group Grande Prairie is a perfect strategic acquisition to strengthen Hub’s positioning in the Western Canadian Marketplace.
"As the first of several acquisitions within Phoenix in 2011, this group will significantly enhance Hub’s presence in the Alberta region," Robertson said.
The terms of the acquisition were not disclosed.