CHICAGO–March 7, 2006–Hub International Limited (NYSE:HBG)(TSX:HBG) announced today the purchase of eBenefits Group, LLC, an employee benefits insurance brokerage which specializes in streamlining the purchasing of insurance, administration process and client employee benefit communication. The company has offices in Simsbury and Branford, Connecticut that will be folded into the operations of Hub International Northeast (“HUB Northeast”).
“This is an excellent opportunity to further expand our strong benefits capabilities,” said Marc I. Cohen, president and chief executive officer of HUB Northeast, based in New York. “This acquisition brings us successful benefits professionals and a solid presence in Connecticut.”
eBenefits generated approximately $3 million in revenue in 2005. The group will report to Thomas Mangan, president of HUB Northeast’s Benefits Division.
David A. Richman, an eBenefits managing partner, commented, “My colleagues and I are enthusiastically looking forward to joining HUB Northeast. HUB is a recognized, well-respected name and their large client base and property and casualty insurance expertise are valuable resources from which we can grow the business.” Maurice P. Andrien, another eBenefits principal, will join Hub International’s best practices group for employee benefits.
Terms of the transaction were not disclosed.
About Hub International Limited
Headquartered in Chicago, IL, Hub International is a leading North American insurance brokerage that provides a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States and Canada.
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