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December 20, 2021

Hub continues acquisition spree with Spofford deal 

American insurance broker and financial services firm Hub International has acquired the Spofford Group Insurance Brokerage.

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2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
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  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
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Based in Hingham, Massachusetts, the acquired firm is an independent brokerage company, which offers management liability, professional liability exposures and related coverages.

It caters to banks, private equity and ventures capital firms, investment advisors, hedge and mutual fund companies, publicly traded and privately-owned companies.

The Spofford Group’s acquisition is expected to enhance and compliment Hub’s speciality practices’ capabilities.

Hub did not disclose the financial value of the deal.

Under the terms of the agreement, the Spofford Group president Rob Spofford and the team will join Hub New England.

Rob Spofford will assume a leadership role at Hub to bolster the firm’s presence in the East region and nationally.

Hub, which has a headcount of over 13,000, seeks to expand its geographic footprint and strengthen industry and product expertise organically and through acquisitions.

Last week, Hub acquired assets of JP Griffin Companies and GRP Financial California as well.

Arizona-based JP Griffin Group is an employee benefit consulting firm specializing in the design, implementation and management of complex multi-site, multi-state employee benefit programmes.

GRP Financial California, on the other hand, is a retirement plan consulting firm, which manages over $3.4bn in assets.

Hub Retirement and Private Wealth (RPW) president Joe DeNoyior stated that “the GRP Financial California team brings tremendous experience in managing retirement plans for plan sponsors and providing financial wellness services to help their employees plan for a successful financial future.”

Free Report
img

2022: So far In Venture Capital

Global investment in 2022 has been majorly dominated by North America, Europe, and Asia Pacific, whereas the Middle East, and South and Central America have recorded low investments comparatively. In light of this, Europe and North America have been identified as the major destinations for Private Equity and Venture Capital (PE/VC) investments.   GlobalData’s whitepaper analyzes which sectors PE/VC firms have been investing in, looking at Technology, Media, and Telecom, with these sectors recording $356 billion and a deal volume of over 10,000 deals in 2022. Healthcare, Financial Services, Business & Consumer Services, and Construction sectors have also seen high investment activity by PE/VC firms, recording a deal value of over $70 billion each.   But what can this mean for you?   Understand how the Deals Database on GlobalData Explorer can be leveraged to:  
  • Track the Aggregate Investment Volumes in PE/VC-Stage firms across geographies and sectors, in addition to viewing the specific deals that drove these volumes
  • Identify the top investors already active in any sector-Geography combinations
  • Assess the Performance of Financial and Legal Advisors, supporting the Dealmaking in any segment of choice (Customizable League tables)
  • Understand what is driving the PE/VC fundraising (Deal Rationale)
  Consult our full report here and optimize your business strategy.
by GlobalData
Enter your details here to receive your free Report.

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