US-based global insurance brokerage company Hub International has acquired Vestas Financial Services to boost its specialty business.
The financial details of the transaction have not been made public.
Based in Canada, Vesta Financial operates as an independent firm providing commercial and personal insurance products with a focus on industries like construction and design professionals.
The company, which has offices in Montreal, Quebec, and Canada, complements Hub‘s specialty insurance practices and strengthens its existing capabilities.
Upon completion of the deal, Vestas Financial president Phillipe Monette and senior vice presidents Martin Brodeur and Patrice Gravel will join HUB International Quebec Limited (Hub Quebec).
Headquartered in Chicago, Illinois, Hub International is a full-service global insurance broker that provides property and casualty, life and health, employee benefits, investment and risk management products and services.
It has more than 12,000 employees in offices located throughout North America.
Hub’s vast network of specialists provides protection to its clients through tailored insurance solutions.
Hub International 2020 acquisitions
In February, Hub bought Triester, Rossman & Associates, an independent insurance firm based in King of Prussia, Pennsylvania.
In January, Hub International acquired RHC Insurance Brokers to boost presence in western Canada.