Canadian Underwriter

Hub continues U.S. expansion

May 9, 2004   by Canadian Underwriter

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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.

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