CHICAGO, May 3, 2005 (CCNMatthews via COMTEX) — Hub International Limited (NYSE:HBG)(TSX:HBG), an international insurance brokerage holding company, provides, through its subsidiaries, a variety of property, casualty, life and health, employee benefits, investment and risk management products.
HUB International Limited (formerly The HUB Group Limited) was incorporated in 1998. On November 30, 1998, the company acquired eleven of Canada�s premier, privately held independent insurance brokerages.
Shortly thereafter the company raised approximately $104,000,000 (CDN) through a combination of a private placement and the company�s Initial Public Offering. HUB International was listed on the Toronto Stock Exchange (HBG) in February 1999. In the ensuing months HUB International has acquired more than 40 additional insurance brokerages and agencies in the United States and Canada.
On September 14, 2000 the company changed its name from The HUB Group Limited to HUB International Limited.
Today, HUB International is one of the largest and most diverse insurance and financial service distributors in North America, managing relationships with over 1,000,000 consumers, corporations and associations through multiple retail, wholesale and call center distribution channels. The company has operating subsidiaries and staff that are licensed, themselves or through their officers, in every province and state in North America, with 2200 employees, 110 retail offices, three multiple-product direct sales call centers, and nine program and/or product-specific Managing General Agents. The company�s call centers are capable of handling over 60,000 calls per month and its Managing General Agents provide products and services to over 5,000 independent property and casualty and life agents in North America.
HUB International manages and places in excess of $1 billion (US) of property and casualty premiums, $100 million (US) of employee benefits premiums, $100 million (US) of segregated funds and $40 million (US) of new life premiums annually. In addition, HUB International has access to facilities in over 40 countries to provide global insurance solutions. http://investor.hubinternational.com.
