May 9, 2004 by Canadian Underwriter
Broker network Hub International Ltd. has announced its second acquisition in the past two weeks, with the purchase of Lyman Insurance Agency Inc. and Conly-Lyman Insurance Agency Inc.
The Wilmington-based agencies were purchased by “hub” brokerage C.J. McCarthy to expand the network reach in middle-market New England business.
While terms of the cash deal were not disclosed, Lyman’s two agencies bring in revenue of about US$700,000 annually. The brokerage owners, Warren and Debbiiangela Lyman will become senior vice presidents with McCarthy.
Lyman’s Salem office will remain, while its Woburn office will be relocated to Wilmington.