Posted on 06 Jan 2011
Hub International Limited (Hub), a leading insurance brokerage firm, announced today that it acquired the assets of Phoenix Insurance Group Grande Prairie Inc., a Grande Prairie, Alberta, Canada-based insurance brokerage firm.
Grande Prairie is one of several Alberta-based firms that make up the Phoenix Insurance Group (Phoenix). Terms of the acquisition were not disclosed.
In connection with this transaction, Grande Prairie will become part of Hub International Barton (Hub Barton) within the Hub International Canada West region. The three partners of Grande Prairie, Bruce George, Mark Marcotte and Elizabeth Fiegehen, will join Hub Barton as part of this acquisition, reporting to Richard Burley, Vice President of Hub Barton. On December 21, 2010, Hub announced that they have signed letters of intent to acquire other operations within Phoenix, including Edmonton, Red Deer, Hinton and Drayton Valley, in the first quarter of 2011.
Established 12 years ago, Grande Prairie arranges commercial and personal lines programs for a wide array of customers, with a niche in oil and gas production, an area of targeted expansion for Hub Barton.
“Phoenix Insurance Group Grande Prairie is a perfect strategic acquisition to strengthen Hub’s positioning in the Western Canadian Marketplace,” said Chad Robertson, President and CEO of Hub Barton. “We welcome Bruce, Mark, Liz and their team of dedicated insurance professionals, who will be a great addition to the Hub Barton family of employees. As the first of several acquisitions within Phoenix in 2011, this group will significantly enhance Hub’s presence in the Alberta region.”
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.