Hub International Buys Canadian Broker’s Life Servicing Business

Hub International Limited has acquired life insurance portfolio from Standard International Underwriters Ltd. Details of the purchase by the Toronto-based Hub Financial Inc.were not disclosed.

Both HUB Financial and SIU are managing general agencies operating in all provinces of Canada. HUB Financial will integrate the SIU servicing activities into its existing operations.

“SIU’s servicing activities on behalf of thousands of independent life insurance brokers are similar to some of our own servicing relationships, leading us to anticipate a smooth integration,” said Terri DiFlorio, president of HUB Financial.

Headquartered in Chicago, Hub International Limited is a North American insurance brokerage with offices in the United States and Canada.

Source: Hub International