Hub International, a US-based insurance broker and financial services provider, has expanded its employee benefits services by buying the assets of Integrated Benefits Group Insurance Brokerage (IBG).
Financial specifics related to the deal were not revealed.
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IBG, located in Stoneham, Massachusetts, US, offers employee and group benefit insurance and administrative services.
It caters primarily to small and medium-sized businesses.
IBG CEO Tony Maffeo and the IBG team will now become part of Hub New England.
The company will operate as Integrated Benefits Group Insurance Brokerage, a Hub International company.
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By GlobalDataMarshberry represented IBG in the acquisition process.
Hub New England president Shawn McLaughlin said: “We are excited to welcome Tony and the IBG team to Hub. We look forward to enhancing and supporting the IBG clients with the depth of our resources, as well as, adding a very talented group of professionals to our team!”
This deal continues Hub’s ongoing acquisition spree, which has seen the company expand its footprint through a series of purchases.
Recently, Hub acquired Wyatt Insurance Services’ assets.
With offices in Knoxville and Clarksville, Tennessee, Wyatt Insurance is an independent agency specialising in commercial and personal insurance, risk management and employee benefits.
Earlier this month, Hub announced the acquisition of Skinner & Company’s assets.
Based in Marietta, Georgia, Skinner & Company offers commercial insurance and risk management services, with a special focus on commercial and contract bonds, as well as payment and performance bonds for the construction industry.
Skinner & Company’s acquisition supports Hub’s Specialty practice by enhancing its existing capabilities.
Last month, Hub bought GMG Group and its subsidiary, Meyers Glaros, for an undisclosed sum.
