Hub acquires Southern Colorado Insurance | Insurance Business America
Insurance News
Hub acquires Southern Colorado Insurance
Deal part of ongoing M&A spree
Insurance News
By
Terry Gangcuangco
Hub International Limited has snapped up the assets of Southern Colorado Insurance (formally SCIC LLC) for an undisclosed sum.
As part of the acquisition, owner Debbie Klisch (pictured), president Andrew Klisch, and the rest of the Southern Colorado Insurance roster will be integrated into Hub Colorado. Following the transition, Southern Colorado Insurance will operate under the name SCIC LLC, a Hub International company.
Based in Colorado Springs, the acquired agency offers both commercial and personal insurance services. It specializes in sectors such as construction, hospitality, and nonprofit organizations. Bringing in its capabilities will enhance and expand the current expertise within the specialty practices at Hub.
When the IMC transaction was announced, Hub Three Rivers president Chet Rhoads noted: “IMC is a highly recognized firm in the region, and we’re pleased to have them join Hub. Their strong experienced team, reputation, and relationships will support and enhance the broad range of services we offer to clients across the region.”
In July, Hub also added North Carolina-based Wade Associates to its list of acquisitions.
Tim Smith, Hub Carolinas president, previously said: “Adding Wade Associates to Hub underscores our strategic focus of continuing to grow in the region with specialists who have a deep understanding of insurance and risk management. Together, we will continue to expand our capabilities and deliver exceptional results for our clients.”
Hub’s other recent M&A (mergers and acquisitions) deals include Symphony Financial & Insurance Services in Rosemead, The Essex Agency in Vermont, Combined HCM in California, True North Group Insurance Services in Michigan, Cargill Insurance in Massachusetts, and Merriwether & Williams in California.
Manned by more than 17,000 people in offices throughout North America, Hub specializes in risk management, insurance, employee benefits, retirement, and wealth management products and services.
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Publish date : 2024-08-08 01:10:00
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