Canadian Underwriter

Hub International acquires Ontario brokerage Sarjeant Insurance Brokers, second Canadian acquisition in one day

September 8, 2016   by Canadian Underwriter

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Global insurance brokerage Hub International Limited announced on Thursday that it has acquired Barrie, Ont.-based Sarjeant Insurance Brokers Limited.

Four business people with puzzleTerms of the acquisitions were not disclosed. Hub has acquired the shares of Sarjeant, which specializes in providing property and casualty insurance solutions, including auto, residential, recreational vehicle and watercraft insurance, as well as “private client services” for valuables and collections, fine arts, wine collections and personal excess liability. Sarjeant also offers risk management services, building valuations, risk audits and contractual reviews, the company said on its website.

Randall Maxim, Sarjeant’s president, and Patricia Hanmer, Sarjeant’s vice president, will join Hub Ontario and report to Barry Hogan, president of Hub Gamble Division.

Earlier Thursday, Hub International acquired Edmonton-based New Dimensions Underwriters Ltd. The terms of the acquisition of the managing general agency were not disclosed. Russ Davis, owner and president of New Dimensions, will join Hub Financial as part of its management team.

Hub International has made a number of Canadian acquisitions over the last few years, including:

  • The full-service commercial and personal lines brokerage Gamble & Associates Insurance Limited, which helped 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.