Hub International Expands with Indiana Acquisition

Hub International Expands with Indiana Acquisition | Insurance Business America

This is the company’s fourth transaction in a week

Hub International Expands with Indiana Acquisition

Insurance news

Author: Kenneth Araullo

Hub International Limited continues its acquisition streak with GMG Group, Inc and its subsidiary Meyers Glaros LLC. Terms of the transaction were not disclosed.

Merrillville, Indiana-based Meyers Glaros is one of the nation’s oldest independent insurance brokers, offering commercial and personal insurance as well as employee benefits.

Caroly Hofstee (pictured above), president and CEO of Hub Midwest East, noted that Meyers Glaros has a strong reputation in the marketplace.

“With a high-performing team of sales professionals and strong relationships with leading insurers, they will help us further develop our growth strategy in the region,” Hofstee said.

Managing partners Matt Glaros and Jeff Meyers, along with the Meyers Glaros team, will join Hub Midwest East.

“The Hub is an ideal strategic partner for us as we look to accelerate our growth in the future,” Glaros said. “Joining the Hub will provide our customers and employees with greater resources, expertise and opportunities.”

Following the acquisition, Meyers Glaros will operate as Meyers Glaros LLC, a Hub International company.

Hub has been gaining momentum recently with its acquisitions, with the company striking a major deal in Rosemead with the buyout of Symphony Financial & Insurance Services, led by David Lee. The company has joined the Hub’s Los Angeles/Orange County (LAOC) operations.

That same week, Hub also acquired the assets of California-based Combined HCM – which includes Combined Benefits, Inc., Combined Commercial Insurance Services LLC and Combined Employer Services Inc.

Under the deal, the financial terms of which were not disclosed, Combined HCM CEO Donny Woo, vice president of payroll Jonathan Zhao and the rest of the team will be integrated into Hub LAOC.

Hub also expanded its operations in Vermont by acquiring The Essex Agency for an undisclosed amount. Essex Agency is an independent insurance agency specializing in personal and commercial insurance, particularly in the construction and property sectors.

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