Risk Transfer Alliance Acquired by Hub International

Hub International has acquired a New England-based retail agency that specializes in property/casualty insurance and related risk management services for the health care industry.

Risk Transfer Insurance Alliance (RTIA) is based in Southborough, Massachusetts — with additional offices in Shelton, Conn., and Portsmouth, N.H.– and generates $3 million in annual revenue. It will become part of Hub’s New England team.

Terms of the deal were not disclosed.

Shawn J. McLaughlin, president of RTIA, will continue to manage the operations of the business for Chicago-based Hub International.

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Source: Hub