Hub International, an insurance brokerage provider, has acquired Fredricksen Insurance Services and PMT, Fredricksen's retail brokerage subsidiary. Terms of the transaction were not disclosed.
As a result of this acquisition, Fredricksen’s operations will become part of Hub International of California Insurance Services (Hub California).
Kirk Christ, president of Hub California, said: Their [the Fredricksen and PMT teams] addition to the Hub International team strengthens our capability in their core business while giving us a P&C operation in the Hemet – San Jacinto Valley. Part of our long-term strategy is to expand what we can offer through this office. By joining forces, Hub now has gained a wholesale operation based on the West Coast.