US-based insurance coverage middleman and monetary providers supplier Hub Worldwide is persevering with its acquisition spree by buying the property of DeFranco Insurance coverage.
The monetary phrases of the transaction weren’t disclosed.
DeFranco Insurance coverage is an independently owned and regionally run insurance coverage company, with a give attention to offering private and industrial insurance coverage choices.
Underneath the phrases of the settlement, Seattle, Washington-based DeFranco Insurance coverage president John DeFranco and his group will grow to be a part of Hub Northwest.
Hub Northwest senior govt vice chairman Eric Schack mentioned: “DeFranco Insurance coverage has been a staple of the Seattle group for the final 70 years, and we’re excited for the chance to carry our groups collectively. This partnership additional strengthens our Hub Northwest model within the Puget Sound market.”
DeFranco Insurance coverage president John DeFranco mentioned: “Our group is worked up concerning the partnership with Hub Northwest and the worth it is going to carry to our clients via the improved market entry and assist providers. This relationship will permit us to focus much more consideration on our current clients and improve our area people providing.”
Final week, Hub additionally purchased property of Horizon Company and Hobson Insurance coverage.
Primarily based in Hobson, Montana, Hobson Insurance coverage is an unbiased full-service agency providing each industrial and private insurance coverage.
Whereas, Eden Prairie, Minnesota-based Horizon Company is a privately held firm that gives worker advantages along with industrial and private insurance coverage.
