Canadian Underwriter

Hub International acquires New Dimensions Underwriters Ltd.

September 8, 2016   by Canadian Underwriter

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Global insurance brokerage Hub International Limited has acquired Edmonton-based New Dimensions Underwriters Ltd.

Business teamwork and global finance blue backgroundThe terms of the acquisition of the managing general agency were not disclosed, notes a statement this week from Chicago-based Hub International, which provides property and casualty, life and health, employee benefits, investment and risk management products and services.

Russ Davis, owner and president of New Dimensions, will join Hub Financial and be part of its management team.

Related: HUB International acquires Gamble Insurance, which will become part of HUB International Ontario

Established in 1948 as the Davis Agency, selling only life insurance at the time, New Dimensions Underwriters became known by its current name in 1990.

It is now a full-service brokerage outlet providing life Insurance, disability insurance and investment products to clients and brokers, the company website notes. Insurance products are provided through multiple insurance carriers.

Related: Hub International acquires auto dealer book of business from New Brunswick broker

“Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise,” the company adds.

Hub International has made a number of acquisitions in Canada over the last few years. These include the following:

  • the full-service commercial and personal lines brokerage Gamble & Associates Insurance Limited, helping to establish a large footprint in southwestern Ontario;
  • acquiring a book of auto dealer business from independent broker Alliance Assurance Inc. in New Brunswick, thereby expanding Hub Atlantic’s general middle-market business; and
  • acquiring shares of Gibson’s Insurance Agency Ltd., a general brokerage servicing government automotive insurance needs and that maintains a large agriculture/farming customer base, resulting in Hub broadening its local market reach and specializations in Manitoba.

Related: Hub International acquires Manitoba-based Gibson’s Insurance