Hub buys Quebec commercial brokerage

Montreal commercial brokerage Forum Risques et Assurance Inc. has been acquired by Hub International Ltd., Chicago-based Hub announced Thursday.

Forum Risques was founded in 2013 by François Jean and Alain Giroux. Its target markets include technology, manufacturing and construction.

Jean and Giroux will join Hub Quebec and report to Robert Dunn, vice chairman and executive vice president of Hub Quebec.

“Hub has an exceptional construction practice,” Giroux stated in a release.

Hub International was formed in 1998 through the merger of 11 Canadian brokerages.

Hub did not disclose the terms of the Forum Risques deal, one of several merger and acquisition announcements involving Canadian property and casualty brokerages in the first 10 days of 2019.

Arthur J. Gallagher & Co. announced Tuesday it acquired Jones Brown Inc., a commercial brokerage with offices in Vancouver, Calgary, Toronto and Hamilton.

Also on Jan. 8, Belleville, Ont.-based McDougall Insurance Brokers announced it has merged with Barrie-based Dusome Insurance Brokers.

Hub’s acquisition of Forum Risques comes two months after Hub acquired  Tri-Line Agencies Inc. of Rose Valley, Sask. and Edmonton-based commercial brokerage Kuokoa Enterprises Inc.

Hub also owns HKMB Hub – a commercial brokerage formerly known as Hunter Keilty Muntz and Beatty – and managing general agency Totten Insurance Group. In October, 2018, Totten acquired Saint John, N.B.-based Anderson McTague & Associates Ltd., a coverholder in the Lloyd’s market. Anderson McTague also has a St. John’s, Nfld. Office.

Hub also acquired the property and casualty business of Cypher Systems Group in August, 2018. Cypher brokerage Southland has offices in Windsor, Tecumseh, Leamington and Harrow. Cypher also owns online brokerage Insurance Hunter.