HKMB International Insurance Brokers joins HUB International

HUB International Ltd. and HKMB International Insurance Brokers have entered into a definitive agreement in which HKMB will join with HUB International.
HKMB will become a new regional platform and carry on business as HKMB Hub International from its offices in Toronto, ON. The existing ownership group will continue as equity partners, the release notes.
“The combination with HKMB will add great depth and talent to our Canadian operations,” Martin P. Hughes, CEO and chairman of HUB International, said in the release. “We have the advantage of knowing the leadership at HKMB very well and they will retain significant equity in the combined entity.
“The reputation of HKMB is impeccable, not only in the Canadian insurance community, but also in the U.S. and abroad.
“Like HUB International, HKMB has grown rapidly through the efforts of a very dedicated team of professionals who are passionate about serving the needs of their clients. We admire their approach to business and respect their management style.
“HKMB is going to be a great fit with us, and we couldn’t be happier to have them joining our growing corporate family,” he continued.
The transaction is scheduled to be complete in early January 2008. It is anticipated that HUB’s combined Ontario operations will generate more than $100 million in total annualized revenue and total Canadian premium volume will exceed $2.1 billion, the release notes.