Management buyout at Hubio Exchange

Hubio Exchange—a technology company that allows P&C insurers to connect digitally with policyholders, brokers, regulatory bodies and agents—has announced a management buyout that will close on Dec. 31.

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Pat Durepos, the president of Keal Technology, will become a shareholder in the recently incorporated acquirer, 10503070 Canada Inc., operating as Hubio Technology. He will be instrumental in helping Hubio Technology—a GuideWire PartnerConnect Solution Partner—develop enhanced broker connectivity solutions.

“The large market potential for the company’s regulatory reporting solutions that are tied to Guidewire, combined with the proven broker connectivity solutions, drew me to invest in the buyout,” Durepos said in a statement. “I am so pleased to have the opportunity to work with this group of expert individuals.”

Fellow Hubio Technology investor Phil Henville will become president and CEO, and will oversee the company’s development of connectivity, regulatory reporting and data management solutions.

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This story was originally published by Canadian Insurance Top Broker.