Hub International sells Talbot hub

Hub International Limited (NYSE/TSE: HBG) recently sold its Talbot Financial hub in an undisclosed transaction to a buyout group, which includes four members of management.
San Francisco-based Talbot Financial, one of four hubs created after the acquisition of Talbot from Safeco in 2004, had been classified as a discontinued operation during the third quarter of 2005.
“We are greatly encouraged by the opportunity to acquire the business we have been managing and pursue new growth opportunities in our markets,” John Brackett, president of Talbot Financial, says.
Martin P. Hughes, chairman and chief executive officer of Hub International, said the sale of the specialty hub will not have a significant impact on the company’s growth opportunities or strategies. He noted that Talbot Financial is a specialty hub with relatively little cross-selling or other collaborative opportunities with Hub’s other brokerages.
With 40 employees and revenue of approximately $5 million, Talbot Financial provides a broad range of financial services to banks and financial institutions.