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Hub acquires P&C operations of Sinclair Cockburn Financial Group


September 8, 2010   by Canadian Underwriter


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Hub International Limited (Hub) has acquired the shares of Sinclair Cockburn Financial Group (SCFG), a Toronto, Ontario-based insurance and financial services firm with approximately $11 million in annual revenues.
Under the terms of the acquisition, Hub has acquired the property and casualty, personal insurance and group/life insurance operations of SCFG, but not SCFG’s mortgage and mutual fund business.
Jim Aston, Kelly Sinclair and Jim Grieve, SCFG’s three majority shareholders, will all join Hub as part of this transaction.
Grieve, president of Sinclair Cockburn Financial Group, will become part of Hub Ontario’s leadership team, reporting to Neil Morrison, president and CEO of HKMB Hub International Limited.
Headquartered in Chicago, Hub International Limited is an insurance brokerage providing a broad array of property, casualty, risk management, employee benefits, investment and wealth management products across North America.
Established in Toronto in 1953, SCFG is a diversified insurance and financial services company with more than 15,000 customers operating throughout Canada. In addition to its Toronto headquarters, SCFG also operates out of Pickering, Ontario.
SCFG received the Insurance Brokers Association of Ontario’s Brokerage of the Year Award of Excellence in 2009.
The brokerage specializes in a number of areas, most notably a professional liability unit focused on architects and engineers. Other practice areas include construction, surety, and national programs (horticultural trades, dairies, non-profits and other retail programs). “The search for the ideal firm to address our growth and succession needs was a three-year project,” said Grieve. “Selecting a partner with a track record of success and shared common values were important factors. Ultimately, we sought stability and opportunity for our staff and customers. Those considerations along with our trust and confidence in the senior management of HUB, made HUB the logical choice for us.”


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