Posted on 03 Sep 2010
Hub International Limited (Hub), a leading insurance brokerage firm, announced on Wednesday that it has acquired the assets of Florida Federal Insurance Company (FFIC), a Boynton Beach, Florida-based personal and commercial insurance brokerage firm. Terms of the acquisition were not disclosed. As part of the transaction, the FFIC operations will become a part of Hub International Northeast Limited. Makram (Mike) Kamel, owner and founder of FFIC, will transition his accounts to Hub and work with the firm moving forward as a referral source of new business opportunities. The FFIC team will continue to maintain a presence at its current location in Boynton Beach, Florida, while its customer service will be integrated into Hub’s existing office in Plantation, Florida.
Founded in 2006, FFIC focuses on personal lines insurance, primarily homeowners’ and automobile insurance, for customers throughout the South Florida region. Additionally, it also arranges commercial insurance programs. FFIC works with top-rated insurance carriers and specializes in providing coverage alternatives for difficult to place risks such as properties located along the Florida coast.
“The addition of FFIC to our team is in line with our efforts to further expand our presence in the Southeastern U.S.,” said Thomas Schuh, Vice President of HUB’s Southeast region.
“As a highly respected brokerage serving the property and casualty insurance needs of the South Florida community for the past several years, they are a great fit for our organization. Quality acquisitions like FFIC are a fundamental component of our growth strategy for the Southeastern US. HUB represents a unique succession partner for agency owners such as Mike Kamel, allowing the agency owner the piece of mind that his business will continue to operate, and grow, in keeping with his original vision.”
“I am looking forward to working with Hub and enhancing our clients’ experience, offering them the value-added resources that Hub provides as a large, international insurance brokerage firm,” said Mike Kamel, Owner and Founder of FFIC.
Headquartered in Chicago, Hub International Limited is a leading insurance brokerage providing a broad array of property, casualty, risk management, employee benefits, investment and wealth management products across North America. Hub is dedicated to helping businesses and individuals manage their insurance needs and plan for the unforeseen. For more information, visit www.hubinternational.com.