Further Expansion of Hub International Northeast Employee Benefits Expertise
CHICAGO, August 2, 2006 – Hub International Limited (NYSE:HBG)(TSX:HBG) announced today the purchase of Post & Kurtz, Inc., an employee benefits insurance brokerage that specializes in serving law firms and other service entities. The company, formed in 1932, will become part of Hub International Northeast (“HUB Northeast”), based in New York City.
“This transaction further develops our already solid employee benefits capabilities,” said Marc I. Cohen, president and chief executive officer of HUB Northeast. “Our resources and expertise have dramatically increased within this specialty focus throughout the past year, and we look forward to utilizing our combined efforts to help our clients and business partners even more with this great addition.”
Post & Kurtz generated approximately $1 million in revenue in 2005. The newly added team will report to Thomas Mangan, president of HUB Northeast’s Benefits Division.
Post & Kurtz co-presidents, Tom Agnew and Bill Kuhn, said they are “wholeheartedly looking forward to joining HUB Northeast. HUB is a highly regarded, recognized name that has an impressive benefits practice. We are proud to now be a part of the HUB family.”
Terms of the cash transaction were not disclosed.
About Hub International Limited
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. www.hubinternational.com .