US-based insurance brokerage firm Hub International (Hub) has acquired the assets of an insurance agency Maritime Insurance Group (Maritime), for an undisclosed sum.
Following completion of the transaction, the acquired business will become part of Hub International Midwest (Hub Midwest).
Based on the agreement, Maritime president Mike Mrdjenovich will join the organization, and report to Neil Hughes, president and CEO, Hub Midwest.
Hughes said that the acquisition will boost its presence in Wisconsin, Sheboygan, Manitowoc and Plymouth regions and help it to serve Maritime’s established customers as well as new clients.
Maritime operates as a full service retail brokerage and provides commercial lines, personal lines, employee benefits programs, and financial services through its division Maritime Financial Group across East-Central Wisconsin.
Headquartered in Chicago, Hub International caters various property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the US, Canada, Puerto Rico and Brazil.