Hub International Acquires Westar Insurance Managers
CHICAGO, May 15, 2006 (BUSINESS WIRE) — Hub International Limited
(NYSE:HBG) (TSX:HBG), a leading North American insurance brokerage, announced
today the purchase of Westar Insurance Managers (“Westar”), based in Kirkland,
Washington. The company will become part of Hub International’s Seattle-based
operation (HUB Northwest), which currently offers special expertise in the construction
industry, an array of commercial lines of business, life and benefits products and personal
lines coverages. Terms of the transaction were not disclosed.
With annual revenue of approximately $2.1 million, Westar provides customers with
general lines capabilities and specialized expertise in both aviation risk and personal
insurance. Westar principals Doris D. Perry, Susan E. Carroll and Laurie P. Hutcherson
will join HUB Northwest.
“Westar and its sales team offer a solid new specialty focus on aviation and a great talent
pool for our growing operations,” said Steve Bush, president of HUB Northwest. “The
company has built a strong track record of growth and we know they will continue to
follow that pattern at Hub.”
“Hub’s well-established relationships with both insurers and clients generate great
potential for us to expand in our region and beyond,” said Dee Perry, President of Westar.
“We welcome the opportunity to introduce Hub’s substantial capabilities to our existing
Headquartered in Chicago, Illinois, 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.
Mystic Capital Advisors Group, LLC provided transaction advisory services to Hub
International. For more information on Mystic Capital, please contact Kevin P.
Donoghue at 212-251-0972 or visit www.mysticcapital.com
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