Terms of the transaction were not disclosed. Credit: VideoFlow/Shutterstock.

US-based insurance broker Hub International has strengthened its presence in Texas through the acquisition of ANCO Insurance Managers.

An independent insurance brokerage, ANCO Insurance is based in Bryan, Texas, with another six offices.

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Launched 150 years ago, the company provides employee benefits, business and personal insurance solutions.

Financial details linked to the deal, which is expected to further cement Hub International’s footprint in the Texas insurance market, were not revealed.

ANCO Insurance currently serves thousands of clients and has a workforce of more than 150.

Hub Texas president and CEO Martin Yung said: “We are excited to have ANCO Insurance join Hub.

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“With their deep knowledge and experience, and their strong long-standing relationships with top insurance carriers, they will help us continue to advance our growth strategy in the region.”

ANCO Insurance will now operate under the name ANCO Insurance, a Hub International company.

CEO Sid Cauthorn and president Ross Gunnels, along with the ANCO Insurance team, will move to Hub Texas.

Gunnels said: “Hub is the next chapter for us as we look to accelerate our growth in the future. We believe joining Hub will give our clients and employees greater cross-sell capabilities, additional resources, expertise and opportunities.”

Hub International offers a range of services including insurance, risk management, employee benefits, retirement and wealth management. The latest deal continues its US growth trajectory.

Last month, Hub International acquired El Paso, Texas-based WestStar Insurance Agency from WestStar Bank.

The acquired entity is known for its tailored business, employee benefits and personal insurance products.