Hub International is looking to raise approximately $3bn in an initial public offering (IPO) that could launch as soon as this year, Bloomberg reported, citing sources.
The Hellman & Friedman-backed insurance broker filed confidentially for the listing in late June.
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When it filed, Hub said the proceeds would be used for general corporate purposes, which could include debt repayment.
According to the report, the company is working with Goldman Sachs Group and Morgan Stanley on the offering, with Bank of America, Barclays, BMO Capital Markets and JPMorgan also involved.
The report said discussions are continuing and details, including the size of the deal, could change.
In May 2025, Hub secured a minority investment of around $1.6bn from a group of new and existing investors led by T. Rowe Price Investment Management, Alpha Wave Global and Singapore state investor Temasek, at an enterprise value of $29bn.
The report said the offering would add to a series of private equity-backed listings during what Bloomberg-compiled data shows is the best half-year on record for US IPOs.
Hub would be among large private equity-backed candidates in the listing pipeline after what the report described as a relatively quiet period for large IPOs in recent years.
Earlier this week, Csquare, a Brookfield-backed data centre company, began marketing an IPO that could raise as much as $1.35bn.
Last week, Jersey Mike’s Subs, backed by Blackstone, and Cumberland Farms, backed by TDR Capital, both filed publicly for share sales.
According to its website, Hub provides property and casualty, reinsurance, life and health, and employee benefits services, and has around 21,000 employees across 570 offices in North America.
Hub was formed in 1998 through the merger of 11 Canadian brokerages. It listed on the Toronto Stock Exchange in 1999 and on the New York Stock Exchange in 2002.
In 2007, the company was taken private after Apax Partners and Morgan Stanley agreed to acquire it when its market capitalisation had exceeded $1bn.
Hellman & Friedman acquired Hub from those owners in 2013 in a $4.4bn transaction.
