Hub International Acquires Maryland’s Raffa Financial

Hub International, an insurance brokerage firm, announced it has acquired Maryland-based Raffa Financial Services, an insurance and benefits brokerage and consulting firm.

Terms of the deal were not disclosed. Raffa, headquartered in Rockville, serves the Virginia, Maryland and D.C. area.

Hub, based in Chicago, offers risk management, insurance, employee benefits, retirement and wealth management products, and has more than 13,000 employees in North America, the company said in a news release.