Hub expands U.S. network

Hub International Ltd. is expanding its U.S. brokerage network with the acquisition of New Jersey-based C.S. Nenner Inc. The new operation is being purchased by Hub’s Kaye Insurance Associates Inc. (KIA) in New York, in a deal for undisclosed amounts of cash and Hub stock.
Nenner is a specialty group focused on transportation and warehousing coverage for the trucking industry, and last year has US$3 million in earned revenues.
Key management at Nenner, including co-founder and chairman Howard Nenner, will remain with the operation. He started the business in 1992 with president Richard Minerva and secretary/treasurer Gregory Kroeger, and all three will become first vice presidents with KIA.
“The excellent business Nenner’s professionals have built is a significant addition to our portfolio of niche capabilities,” says Bruce Guthart, president of Hub’s U.S. operations.
Hub’s strategy is to acquire U.S. brokerages in certain regions to service middle-market commercial clients.