Oct 3, 2011 – Hub International announces acquisition of House of Insurance
Hub International Limited announces
Acquisition of Coastal Insurance Services, Ltd.
Chicago – Oct 3, 2011 – Hub International Limited (Hub) announced today that its Hub
International TOS (Hub TOS), British Columbia, operating unit has acquired the shares
of Coastal Insurance Services Ltd. (Coastal), a Port Moody, British Columbia (B.C.)-
based insurance brokerage firm specializing in insuring strata corporations and individual
unit owners in B.C. for more than 25 years. Terms of the acquisition were not disclosed.
Coastal’s existing client base is made up of many of B.C.’s top property managers, more
than 2,600 strata corporations, and thousands of strata owners, which will complement
the current focus of Hub TOS. Their realty program account portfolio and expertise will
integrate with the current Hub TOS client base and provide cross sell opportunities
through all lines of business. The team from Coastal will continue to operate as a
separate region through Hub TOS, headed up by Coastal’s President, Mike Valiquette
and Vice-President, Dave Terry.
“We are delighted to welcome the Coastal team to Hub and expand our team of
professionals at Hub TOS,” said Tina Osen, President and CEO of Hub TOS. “Due to
their strong existing client and market relationships and the great depth of expertise in
realty, this acquisition was a great fit for us. We look forward to providing the existing
Coastal clients with the many value-added services that Hub provides as part of our
Mike Valiquette, President of Coastal added: “This acquisition represents our dedication
to continuing and enhancing Coastal’s value proposition to its clients and securing
exciting futures for Coastal employees.”
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.
Mystic Capital Advisors Group, LLC provided transaction advisory services to Hub
International on the deal.