Hub International Limited (Hub), a leading insurance brokerage firm, last week announced that it has signed a definitive agreement to purchase Strategic Employee Benefit Services of Louisiana, LLC (SEBS of Louisiana), a Metairie, Louisiana-based benefit consulting and service firm.
Terms of the acquisition agreement were not disclosed. The acquisition is expected to close in early August and is subject to certain closing conditions.
Upon the closing of the acquisition, SEBS of Louisiana will become part of Hub International Gulf South (Hub Gulf South). Key executives of SEBS of Louisiana, Kevin Gardner, President and Employee Benefit Specialist, and Mike Ford, Vice President and Employee Benefit Specialist, will join Hub Gulf South as part of this transaction, and lead the employee benefits division of Hub Gulf South, reporting to Steve Terry, President, Hub Gulf South. SEBS of Louisiana is headquartered in Metairie, and operates from additional offices across Louisiana including Baton Rouge and Lafayette, all of which are areas where Hub Gulf South has existing offices, and Covington and Houma. Hub Gulf South’s headquarters will continue to operate out of Metairie.
Founded in 1991, SEBS of Louisiana is one of the largest independent benefit consulting organizations in the region, providing a wide range of customized employee benefit programs and services including Group Medical, Consumer Driven Benefit Plans, Disability Insurance Plans, Voluntary Benefit Plans,
Individual Benefit Plans, Long Term Care Plans, and Worksite Benefit Plans, through leading insurance carriers. By joining forces with Hub, SEBS of Louisiana will now have the ability to offer property & casualty products and expanded risk services to their clients.
“The combination of these two great companies will enable us to offer SEBS of Louisiana clients additional products and services that will help reduce their total cost of risk and grow their business,” said Kevin Gardner, president and founder of SEBS of Louisiana. “In addition to Hub’s robust employee benefits products and services, we will also have access to greater financial resources, additional markets, and expanded solutions for our business clients.”
“SEBS of Louisiana has built an outstanding organization with a strong reputation for personalized service and superior benefit consulting,” said Steve Terry, President of Hub Gulf South. “They have helped Gulf Coast businesses manage the challenges of rising premium costs, increasing regulations, and today’s economic uncertainty. The combination of added resources, extensive products, and the customer-focused philosophy our firms share will allow us to grow and prosper in the new post health care reform marketplace. We look forward to joining forces with SEBS of Louisiana and delivering enhanced solutions to the clients and communities we serve.”