Two factors prompting HUB’s latest Canadian acquisition

Location and farming expertise played into HUB International Limited’s acquisition of a Manitoba brokerage recently.

The global insurance brokerage announced Wednesday it has acquired the shares of Desilets Insurance Brokers Ltd. Desilets Insurance will become part of Hub Manitoba.

“This acquisition is right in between two of our largest locations with brokerages – it is halfway between Portage la Prairie and Winnipeg,” said Keith Jordan, president and CEO of Hub Manitoba. The brokerage is also on a major highway, with a “terrific community and surrounding area that is growing,” Jordan added.

In addition to its location, Desilets Insurance is located in a very rich agricultural area, providing it with “substantial farming expertise,” Jordan said. “As well, the brokerage has some very nice commercial accounts from the surrounding area.”

Elie, Manitoba-based Desilets Insurance offers personal and commercial insurance lines, specializing in providing insurance solutions for the farming industry. The Manitoba brokerage will stay with its current name until Dec. 31, at which time it will convert to HUB International.

Desilets Insurance’s “industry-focused approach” also supports HUB’s recent launch of its Specialties practices. In February, the global brokerage announced the launch of its first eight industry Specialty practices as an “important part of its enterprise strategy to differentiate itself.” The first specialty practices include transportation, financial institutions, entertainment/sports, construction, agriculture, hospitality, real estate and healthcare.

Terms of the acquisition were not disclosed.