Hub International, a leading global insurance brokerage, announced that it has agreed to acquire the assets of KeenanSuggs Insurance.
Terms of the acquisition were not disclosed.
The deal is expected to close on August 1, 2016.
With offices in Columbia, Greenville and Charleston, South Carolina, and Raleigh, North Carolina, KeenanSuggs is a provider of multi-line insurance including property and casualty, personal lines, employee benefits and risk services throughout the Southeast.
Tommy Suggs, President and CEO of KeenanSuggs, will join HUB as President and CEO of the Carolinas region for Hub Southeast, and Mitch Watson, CFO and COO of KeenanSuggs, will also join Hub Southeast’s Carolinas region as COO.
“The addition of KeenanSuggs is a game-changing event for Hub Southeast and our Carolina presence,” said Mike Chapman, CEO, Hub Southeast.
“I look forward to working with Tommy and Mitch and welcome their great team and customers as part of the continued growth of the Southeast region.”
“We are excited to join Hub and combine our resources to service our customers and create opportunities for our employees.
“KeenanSuggs has always believed that our clients need more than insurance and built our firm accordingly. The combination with Hub is a natural progression for our firm. We are looking forward to the future,” said Suggs.
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.
Headquartered in Chicago, IL, Hub International Limited is a leading global insurance brokerage that provides property and casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America.