Hub International, a Chicago-based insurance brokerage firm, has acquired the assets of four additional middle market agencies that operate as part of the Phoenix Insurance Group, a cluster partnership of various Canada-based brokerages.
The acquisitions include the operations of Phoenix located in Edmonton, Red Deer, Hinton and Drayton Valley and follow Hub’s purchase of the Grande Prairie operations of Phoenix in December 2010.
Upon this acquisition, all four acquired operations will become part of Hub International Barton within the Hub International Canada West region.
The principals to be joining Hub Barton as part of the acquisitions include: Terry Stewart (Edmonton), Drew Adams (Edmonton), Doug Davis (Edmonton), Al Bean (Red Deer), Rosalie Cederstrandt (Hinton), and Laureen Bida (Drayton Valley). They will all report to Richard Burley, vice president, Hub Barton.
However, the Phoenix Group Risk Management has not included in these acquisitions and will continue to operate independently.
Hub said these acquisitions will advance it’s initiative to further expand the market presence in Western Canada.
The acquired brokerages in the Alberta region, offer commercial lines, employee benefits, life, personal insurance and surety programs. They also work with clients in a range of industries including the construction, petroleum, forest products, manufacturing, property management, retailing, finance, transportation and recreation sectors.
Terms of the acquisitions were not disclosed.