February 12, 2019 by Greg Meckbach
Hub International Ltd. has bought another Canadian employee benefits operation.
Chicago-based Hub announced Tuesday it has acquired the assets of Toronto-based Firstbrook Pointon Benefits Incorporated. Tuesday’s announcement comes a month after Hub acquired Vancouver-based TRG Group Benefits and Pensions Inc.
Firstbrook Pointon Benefits is part of the Firstbrook Group of Companies, which is also comprised of Firstbrook Insurance (Hub will not acquire Firstbrook Insurance as part of the deal). Firstbrook Insurance offers a number of services including life insurance planning.
Located in Toronto, Firstbrook Pointon Benefits’ offerings include group benefits consulting.
Bob Pointon, president and managing partner of Firstbrook Pointon Benefits, will join Hub Ontario.
Firstbrook founder and CEO John Firstbrook “has formed a strategic alliance with Hub Ontario and will continue to play a vital role in growing the business,” Hub said Tuesday in a release. John Firstbrook is also CEO of John T. Firstbrook Insurance Agencies Ltd.
Companies like Firstbrook Pointon Benefits “help us provide our clients with an even more robust Canadian benefits solution,” Gregory Belton, executive chairman of Hub International Ontario Ltd., stated in a release.
Hub is training its Canadian employees to articulate that Hub is not just a property and casualty brokerage, Tina Osen, president of Hub International Canada, told Canadian Underwriter in January.
Terms of the deal with Firstbrook Pointon Benefits, as well as the strategic alliance with John Firstbrook, have not been disclosed.
Founded in 1998 through the merger of 11 Canadian brokerages, Hub currently owns commercial brokerage HKMB Hub and managing general agent Totten Insurance Group.
Last month, Hub acquired the Montreal-based commercial P&C brokerage Forum Risques et Assurances Inc., whose clients include construction firms.
Last August, Hub acquired the P&C insurance operations of Windsor, Ont.-based Cypher Systems Group. As a result, Hub now owns online brokerage Insurance Hunter and Southland Insurance Brokers Inc., which has offices in Windsor, Leamington, Tecumseh and Harrow.