November 9, 2018 by Jason Contant
Global insurance brokerage Hub International announced this week it has acquired the assets of two western-Canadian brokerages.
Hub acquired on Wednesday the assets of Tri-Line Agencies Inc., a full-service, independent brokerage headquartered in Rose Valley, Sask. Tri-Line Agencies offers personal and commercial insurance solutions, and specializes in government automobile and farming solutions. Eugene Danko, the brokerage’s owner, will join Hub Manitoba.
The following day, Hub acquired the assets of Kuokoa Enterprises Inc. Located in Edmonton, Kuokoa Enterprises specializes in commercial lines insurance. Dave Douglas, owner of Kuokoa Enterprises, will join Hub Barton.
For both deals, the terms of the transaction were not disclosed.
Hub has recently made a series of acquisitions of Canadian-based brokerages. In February, the global brokerage announced the launch of its first eight industry Specialty practices as an “important part of its enterprise strategy to differentiate itself.” The first specialty practices include transportation, financial institutions, entertainment/sports, construction, agriculture, hospitality, real estate and healthcare.
More recently, in September, the global brokerage acquired Frontier Business Centre Ltd., operating as Hometown Insurance Brokers. The full-service, independent brokerage is headquartered in Vonda, Sask. and offers personal and commercial insurance solutions, including crop hail insurance.
Also that month, Hub bought personal and commercial lines Access Insurance Brokers Inc. of Ottawa.
In August, Hub acquired the property and casualty business of Cypher Systems Group, a Windsor, Ont. firm that owns Southland Insurance Brokers Inc., SmartCoverage Insurance Services Inc. and online quote provider Insurance Hunter Services Inc.
Headquartered in Chicago, Ill., Hub International is a full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. It currently has more than 11,000 employees.