Bolds Risk provides commercial and personal insurance, and risk management services. Credit: Tumisu from Pixabay.

Insurance brokerage Hub International has further expanded its presence in the US with the purchase of Bolds Risk & Insurance Services’ assets.

The acquisition is said to strengthen Hub International’s commercial insurance and risk management capabilities.

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Financial details related to the deal were not shared.

California-based Bolds Risk offers commercial and personal insurance, along with risk management services.

With this acquisition, the Bolds Risk team including President Ron Bolds will become part of Hub Central and Northern California, operating from the Larkspur office.

Bolds Risk will now be known as Bolds Risk, a Hub International company.

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Hub Central & Northern California CEO Darren Caesar said: “We are happy and look forward to having Ron join our team to further our services and offerings in the Bay Area.”

Earlier this month, Hub International acquired the assets of Alliance Insurance Agency for an undisclosed sum. Alliance will now do business as Compass Insurance Agency.

The Compass Insurance Agency team and Alliance will join Hub Michigan.

Last month, Hub unveiled Hub Builder’s Risk Insurance Solutions, aimed at easing risk management for construction projects. 

The service will help project owners, general contractors and developers.

Hub International is engaged in providing a range of services including insurance, risk management, employee benefits, retirement and wealth management.

The company has a workforce of more than 17,000 across various offices in North America.