Hub acquires west-coast U.S. brokerage

Hub International Ltd. (TSX: HBG) has acquired Davis Bodie Insurance Services Inc. based in Thousand Oaks, CA for an undisclosed cash amount. The brokerage, which generates about US$600,000 in annual revenue, will form part of the broker network consolidator’s Hub of California Inc. operation, based in Los Angeles.
Lee Davis, the senior partner of the acquired brokerage, will take over the roll of vice president of Hub’s California operation. “We are pleased to have Lee Davis join us in California. He brings a solid book of middle market business,” says Hub CEO Martin Hughes.