October 3, 2002 by Canadian Underwriter
Hub International Ltd. (NYSE, TSX: HBG) has added to its Ontario business with the purchase of Ottawa-based O’Neil & Company Ltd. The acquisition was made through Hub Ontario’s Gifford Associates Insurance Brokers Ltd.
O’Neil, which sells commercial and personal p&c products, has been in business since 1935. Its focus is the natural resources industry, specifically forestry and the brokerage sees annual commission revenue of about $750,000.
The brokerage’s president, Gerry O’Neil, will remain in that role as his office joins Gifford in Hub Ontario’s retail division. “The solid reputation of the Hub Ontario companies and their demonstrated success with integrating operations, combined with our complementary fit with Gifford Associates, were very compelling reasons to join the Hub team,” says O’Neil. “We fully recognize that the improved access to the insurance market can only help to serve our clients better.”
Hub Ontario retail division president Larry O’Donoghue adds, “With the O’Neil team on board we can expand our reach into the natural resource industry and in the Ottawa area, while providing their clients with the breadth of our product line.”