Hub International Limited (Hub), a leading insurance brokerage firm, announced today that it has signed a definitive agreement to acquire the assets of Byars Thompson Buchanan Insurance & Financial Services, LLC, (BTB), a Santa Maria, California-based insurance brokerage firm. Terms of the acquisition were not disclosed.
The closing of this acquisition is expected to occur on December 1, 2010, at which time BTB will become part of the California operations of Hub International Insurance Services Inc. (Hub California). The owners of BTB, Rob Buchanan, Joel Byars, Scott Dunn and Dan Thompson, will join Hub California as part of this acquisition and will report to Darren Caesar, Executive Vice President, Hub California.
Operating out of offices in Santa Maria and Paso Robles in California’s Central Coast, BTB was formed in 1992 through the combination of Rob Buchanan and Dan Thompson joining Joel Byars. BTB works primarily with middle market businesses across the central coast on their property and casualty and life/health insurance programs, with a niche in agriculture property and liability. Additionally, BTB has a personal lines practice.
“BTB will provide Hub with a strengthened presence in our core business, while also giving us an expanded footprint within the Central Coast area,” said Kirk Christ, President, Hub California. “We are happy to join forces with the highly talented team of professionals from BTB, who are an integral part of the communities they serve. We look forward to serving their customers and providing them with the many value added resources that Hub offers as one of the largest insurance brokerages in the country. ”
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.