Chicago-based insurance brokerage Hub International acquired Blackstone Insurance, Benefits and Bonding Inc. on Wednesday, the latest in a series of recent acquisitions.
On Tuesday, the company announced its purchase of Ontario’s Benefit Broker Services Inc. Last week, Hub purchased Southland Insurance Brokers and the property and casualty insurance business of Cypher Insurance Group (CSG), both of which are located in Ontario. Terms were not disclosed for any of the acquisitions.
The purchase of Blackstone Insurance in Saskatchewan and Benefit Broker are part of Hub’s strategy to grow revenue in the employee benefits commission and fee revenue to $100 million through acquisition and organic growth by 2021, a release says.
Hub also announced the creation of a Canadian service centre in Windsor, Ont. with its purchase of CSG’s business.
Last month, Hub also acquired Independent Financial Concepts Group Ltd., Optimum Group Benefits & Insurance Services Ltd. and Wm. W. Hammond Insurance Agency Incorporated.