Hub International has acquired Ontario-based ProCorp Financial, a firm that specialises in retirement services, estate planning, life insurance, critical illness and disability insurance
Hub International office in Gillette, Wyoming (Credit: Mr. Satterly/Wikipedia.org)
American insurance brokerage firm Hub International has acquired Canadian retirement consulting firm ProCorp Financial for an undisclosed sum.
Based in Ontario, Canada, ProCorp Financial offers boutique benefits and retirement consulting services, specialising in the likes of estate planning, group benefits, life insurance, critical illness insurance, disability insurance and travel insurance.
Hub International Ontario executive chairman Gregory Belton said: “We are thrilled to welcome Hugh [Doyle] and the ProCorp Financial team to Hub. ProCorp Financial has a comprehensive array of product offerings that are well aligned to further expand our employee benefits solutions in Canada.”
According to Hub, the move is part of its ongoing Canadian employee benefits growth and services strategy to expand its employee benefits and retirement solution to address the challenges that clients face, including in retirement.
ProCorp Financial president Hugh Doyle said: “What I found most compelling about Hub is their continued growth and strategy to provide the highest quality of employee benefits and pension solution to clients.
“We are excited to help in this effort as we will provide clients with greater support while building an enhanced service experience for them.”
ProCorp’s Hugh Doyle will report to Matt Lievers
Hugh Doyle will join Hub Ontario and report to Hub Ontario Employee Benefits & Retirement president Matt Lievers.
Last month, Hub International acquired three New York-based firms, Perennial Pension and Wealth, EPIC Retirement Services Consulting, and StoneStreet Pearl River, which offer pension and retirement planning services.
Perennial Pension and Wealth is an independent financial services company, offering pension, retirement planning, wealth management services and strategies to organisations and individuals. Financial terms of the deal were not disclosed.
Established in 1999, EPIC Retirement Services Consulting specialises in 401(k), 403(b) and pension plans. It has been offering customised retirement plan solutions and services to plan sponsors as well as employee education to plan participants.
Based in Pearl River, New York, StoneStreet also offers retirement plan consulting services to defined benefit, defined contribution and non-qualified plans and is led by Barbara Delaney.