Hub expands into Florida

Hub International Limited (NYSE/TSX: HBG) has closed the acquisition of Florida-based Fortun Insurance Agency. Through the transaction HUB has acquired the assets of Fortun Insurance (retail), ABCO Insurance (wholesale) and American Inspection Company, as well as the stock of ABCO Premium Finance (premium financing). The new retail brokerage entity is named Hub International Florida, Inc. but will initially conduct business as Hub International Fortun.Hub says this acquisition launches its presence in the Southeast and “allows HUB Fortun to expand its product and service offerings to area businesses and individuals.” The brokerage adds approximately US$10 million to HUB’s annualized revenue base.