US-based global insurance broker Hub International (Hub) has purchased the shares of Gibson’s Insurance Agency, for an undisclosed sum.
Upon completion of the transaction, Gibson’s will operate as a part of the Hub International Horizon operations.
Hub believes that the takeover of Gibson’s Insurance will strengthen its local market reach and specializations across the province of Manitoba.
Gibson’s trades as a general brokerage servicing government automotive insurance needs and maintains a large agriculture/farming customer base.
The company has two locations in Treherne and Notre Dame de Lourdes, and both offices will continue to operate following completion of acquisition. Hub will now operate 22 locations across Manitoba.
Hub International Horizon president and CEO Keith Jordan said: "Because Gibson’s agricultural clients are similar to Hub’s Manitoba client profile, they are in a great position to take advantage of Hub’s unique innovative insurance products developed for crop production, employee benefits, and life and estate planning."
Earlier this month, Hub International New Mexico division acquired the assets of Free Market Insurance Agencies, an Albuquerque, New Mexico-based insurance brokerage firm (Free Market).
Hub International delivers property and casualty, life and health, employee benefits, investment and risk management products and services in the US, Canada, Puerto Rico and Brazil.
Image: Hub International purchased Manitoba-based Gibson’s Insurance.Photo: courtesy of adamr/freedigitalphotos.net.