Hub International, an insurance brokerage and financial services provider, has bought the assets of Ronald Morin, Jr., trading as Morin Insurance Agency.
The deal, the terms of which were not revealed, is set to bolster Hub’s presence in the New England, US, region.
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Morin Insurance Agency, based in Alton Bay, New Hampshire, serves individuals and business owners in northern New England.
Its offerings include commercial insurance, life, automobile, employee benefits and homeowners insurance.
The agency’s principals, Ron and Stacey Morin, along with their team, will now become part of Hub New England.
Hub New England president Shawn McLaughlin said: “We are very excited to welcome the talented Morin Insurance Agency team to the Hub New England family. Morin Insurance will help expand our capabilities and presence in New Hampshire and northern New England allowing deep resources to support our local community.”
Ron Morin added: “This move is significant to the residents of not just Alton and the surrounding towns but the region. In a time when insurance market prices are either going up dramatically or choices are being restricted, we felt aligning with a company that has such broad insurance company access and risk management products would allow our agency to provide what Granite-Staters’ would expect from their important insurance and risk protections – which is exactly what Hub is able to do.”
This acquisition continues Hub’s growth strategy, which includes both organic growth and acquisitions.
In December 2023, Hub took over the assets of AFS 401(k) Retirement Services and AFS Financial Group, a Bethesda, Maryland-based company known for its retirement plan consulting and wealth management services.
Last year in November, Hub acquired the assets of Franklin Financial Group and Franklin Investment Group.
The buying spree has continued this year too.
Last month, the company acquired the assets of Bob Gottschling’s book of business, strengthening its retirement and wealth management services.
