Chicago-based insurance brokerage firm Hub International has acquired the insurance brokerage assets of FAS-EBA (FAS) Insurance Services, a California-based employee benefits brokerage firm.
Further details on the deal remain undisclosed, however, the transaction is expected to expand Hub’s presence in San Diego and increase the broad spectrum of insurance offerings available to FAS clients.
FAS provides customized solutions including employee benefits products and services, wellness programs, executive benefits, compliance services, and retirement plans.
As part of the acquisition, FAS sole shareholder and president Thomas Freismuth will join Hub and FAS brokerage operations will become part of the California division of Hub International Insurance Services (Hub California).
In a separate undisclosed transaction, Hub has also acquired assets of the New Mexico-based insurance brokerage firm, Mahres & Mahres Insurance to expand its geographic footprint in Las Cruces.
Mahres operation will become part of the New Mexico division of Hub International Insurance Services as part of the transaction and its customers will gain access to the complete suite of insurance products and services offered by Hub.
Mahres, founded in 1984, offers a full range of personal and commercial lines products and services.