US-based insurance brokerage firm Hub International has purchased the assets of Laubacher Insurance Agency, for an undisclosed sum.

Laubacher provides property and casualty, employee benefits and personal lines services in Ventura, Santa Barbara, and San Luis Obispo Counties of California.

The acquired business, which has offices in Oxnard and Solvang, will be integrated in the Californian operations of Hub International Insurance Services (Hub California).

Laubacher’s owners Tom Laubacher and Harry Crosby will join Hub California as senior vice presidents and report to senior executive vice president Darren Caesar.

Caesar said: "California is a diverse and complicated insurance landscape, and Hub continues to build the local market expertise of the state through acquisition.

"Laubacher has a rich heritage in the tri-counties and their farm and ranch expertise is a strong fit for Hub’s continued growth in the region."

Hub offers property and casualty, life and health, employee benefits, investment and risk management products and services in North America.