Hub International Limited, a global insurance brokerage headquartered in Chicago, has acquired the life insurance product managing general agent business of Toronto-based Ivari, the firm said in a release on Thursday.
The acquisition is Hub’s latest in a series in recent years as the firm aims to grow its geographical footprint.
Ivari has a national network of thousands of independent advisors who provide life insurance products.
The brokers and business done through Ivari’s company offices will join Hub Financial Inc., a subsidiary of Hub, the release said.
Hub Financial, which combines sales training and coaching with back-office support and technology, has 15 offices across Canada.
Ivari’s “strategic refinement of resources” will allow Ivari to further support independent advisors and existing partnerships, the release said.