CHICAGO July 5, 2006 – Hub International Limited (NYSE:HBG)(TSX:HBG) announced today the acquisition of AssurConseil, S.E.N.C., a Montreal-based insurance broker with both general lines and trucking expertise. The 39-employee organization will add approximately CDN$5.5 million (US$4.9 million) to Hub International’s revenue base and will become part of Hub International Quebec Limitee (HUB Quebec). Terms of the transaction were not disclosed.
“AssurConseil and its management team are well known and highly respected in our service area, which makes this acquisition attractive on several levels,” said Andre Soucisse, president and chief executive officer of HUB Quebec. “We look forward to working with our new partners to accelerate our expansion.”
All members of the AssurConseil Executive team will play important management roles in Hub Quebec. AssurConseil principals who will be joining HUB Quebec include Mr. Pierre Charron, Christian Chartier, Pierre Simoneau, Louis-Claude Trudel, Pierre Paquette and Robert Lorange.
“We will add new market access and product depth for AssurConseil clients as we become part of HUB Quebec, creating growth opportunities for our combined organization,” Charron said.
Headquartered in Chicago, IL, Hub International Limited is a leading North American insurance brokerage that provides a broad array of property and casualty, reinsurance, 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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