Chicago December, 2010 – Hub International Limited (Hub), a leading insurance brokerage firm, announced that it has acquired the assets of Leeds Insurance Brokers Inc. (Leeds), a Toronto, Ontario-based insurance brokerage firm. Terms of the acquisition were not disclosed. The Leeds operations will become part of HKMB Hub International Limited (HKMB Hub). The Leeds management team of Ron Fritz, President, and Peter Bekelis, Vice President, will join HKMB Hub, reporting to Neil Morrison, President and Chief Executive Officer, HKMB Hub.
Leeds is a full-service insurance brokerage with niche expertise in several industries, including hospitality and entertainment. Their commitment to serving the unique risks and insurance needs of hospitality establishments and businesses within the entertainment industry have made them leaders in these fields. Their expertise in the hospitality industry comes from over three decades of experience in several Leeds executives serving as restaurant owners and managers themselves. Other key industries and products available through Leeds include: commercial, residential, condominiums, industrial, golf, sport, technology, valuables, vehicles, watercraft, aircraft, bonds and surety, and health.
“We are excited to welcome Ron, Peter and the rest of the Leeds� team to Hub,” said Neil Morrison. “Their well established business and strong client relationships will broaden Hub�s scope and offerings in the hospitality and entertainment segments as we mutually pursue opportunities for organic growth and increased market share”.
Hub also announced that Hub International Canada West (Hub Canada West) has signed letters of intent to acquire certain operations of the Phoenix Insurance Group (Phoenix), a cluster partnership of various Alberta-based firms. Hub expects to acquire the Grande Prairie operations of Phoenix by the end of 2010, and the Edmonton, Red Deer, Hinton and Drayton Valley operations of Phoenix in the first quarter of 2011.
Phoenix Group Risk Management Inc. is not included in these transactions and will continue normal business operations independently.
“We are excited to move forward with the process to join forces with the talented teams at Phoenix, first with the Grande Prairie operations and others to follow,” said Jim Barton, Regional President of Hub�s Canadian operations. “Recognized as one of the top brokerages in the Alberta region with deep relationships in the communities they serve, Phoenix is an ideal fit for Hub to expand its footprint in Western Canada.”
“Our new Phoenix colleagues will join the Hub Barton team to continue our expansion in Western Canada to better serve our customers,” said Barton.
About Hub International Limited
Headquartered in Chicago, Hub International Limited is a leading insurance brokerage providing a broad array of property, casualty, risk management, employee benefits, investment and wealth management products across North America. Hub is dedicated to helping businesses and individuals manage their insurance needs and plan for the unforeseen. For more information, visit www.hubinternational.com.
