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Hub International to acquire independent Manitoba brokerage Horizon Insurance


September 14, 2011   by Canadian Underwriter


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Hub International Limited (Hub) has entered into a definitive agreement to acquire the operations of Horizon Insurance LP (Horizon), a full service insurance brokerage firm headquartered in Manitoba.
The acquisition is expected to close in the third quarter of 2011 and is subject to customary closing conditions. Terms of the acquisition were not disclosed.
Horizon will become a new regional platform (hub) doing business as Hub International Horizon Insurance (Hub Horizon) through offices located in Manitoba.
Horizon president Keith Jordan, chief operating officer Brent Gilbert, chief sales officer Tony Cesario and chief financial officer Wendy Harrison and their staff will join Hub as part of the acquisition.
“This was a tremendous opportunity to join an international brokerage firm,” Jordan said in a press release. “Joining the Hub team will provide enhanced opportunities for our staff, and we will continue our planned growth in Manitoba, Saskatchewan and Northwestern Ontario.”
Horizon is the largest independent insurance broker in Manitoba, offering a broad suite of insurance solutions to individuals and businesses through 18 sales and service centres in Winnipeg, Brandon, Portage la Prairie, Whitemouth, Lac du Bonnet, and Pinawa. Twelve of these offices are branded as Horizon Insurance, and the other six operate as Ryan Gateway Insurance (which was acquired by Horizon in 2009).
Hub says the acquisition represents a strategic opportunity to expand its regional footprint in Canada and establish a regional operation in Manitoba.


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