Burnham Insurance Group to be Acquired

Hub International Limited signed a letter of intent to purchase Battle Creek, Mich.-based Burnham Stewart Group, a regional insurance broker, with offices throughout Michigan and in Chicago, Cleveland and Dallas. The company is among the top 100 largest independent brokers in the U.S. with annual revenues exceeding $22 million.

The purchase of Burnham Insurance Group continues Hub International’s growth in the U.S., following deals with J.P. Flanagan Corp. and Kaye Group Inc. (expected to be completed in the second quarter of 2001). Hub International will also have offices in Baltimore, Boston, California, Chicago, Connecticut, Denver, New York and Rhode Island.