Hub International has acquired the assets of Stop Loss Insurance Brokers and Berkeley Insurance Brokers, collectively known as, Stop Loss Insurance Brokers.
The deal, whose financial terms were not shared, expands the US-based full-service insurance broker’s suite of medical stop loss services.
Massachusetts-based Stop Loss Insurance Brokers specialises in medical stop loss for the self-funded municipal market and businesses across Massachusetts and New England.
Hub New England president Shawn McLaughlin said: “We are thrilled to add such a talented team which expands our expertise in both product and the Public Entity industry.
“We are thrilled to have Denise Doyle and the talented Stop Loss Insurance Brokers team join Hub’s benefits practice.”
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Hub, which provides risk management, insurance, employee benefits, retirement and wealth management products and services, has been growing its business via organic growth as well as acquisitions.
Earlier this month, Hub took over Shaver-Robichaux Agency, expanding its commercial and personal insurance capabilities.
Last month, Hub acquired the assets of the independent employee benefits advisory firm Alexander & Company, which caters to the public sector.
Its recent acquisitions include Sandy Spring Insurance, Spofford Group Insurance Brokerage, JP Griffin Companies and GRP Financial California among others.
The Chicago-headquartered firm has more than 14,000 employees in offices located throughout North America.
Hub is seeking to further expand its geographic footprint and strengthen industry and product expertise both organically and through acquisitions, it said.