HUB International Limited is an

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect ...

brokerage A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neith ...

providing an array of property, casualty, risk management, life and health, employee benefits, investment, and wealth management products and services across North America. HUB has more than 375 offices across the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

and

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

and more than 10,000 employees. It is based in

Chicago Chicago is the List of municipalities in Illinois, most populous city in the U.S. state of Illinois and in the Midwestern United States. With a population of 2,746,388, as of the 2020 United States census, 2020 census, it is the List of Unite ...

Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. It borders on Lake Michigan to its northeast, the Mississippi River to its west, and the Wabash River, Wabash and Ohio River, Ohio rivers to its ...

. HUB International was formed in 1998 with less than 300 employees and less than 50 Canadian offices. In early 2007, it was purchased by an investor group led by

private equity firm A private equity firm or private equity company (often described as a financial sponsor) is an investment management company that provides financial backing and makes investments in the private equity of a Startup company, startup or of an existin ...

Apax Partners Apax Partners LLP is a British private equity firm, headquartered in London, England. The company also operates out of six other offices in New York, Hong Kong, Mumbai, Tel Aviv, Munich and Shanghai. As of March 2024, the firm had raised and adv ...

in a going-private transaction.

History

In August 2013, the firm was acquired by the private equity firm

Hellman & Friedman Hellman & Friedman LLC (H&F) is an American private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts as well as growth capital investments. H&F has focused its efforts ...

for around $4.4 billion. In March 2020, Hub International Limited and Morneau Shepell Inc. announced the sale of Morneau Shepell's benefits consulting practice to Hub. Also in March, Hub International Limited announced the acquisition of assets of Linton & Associates Insurance Agency. Terms of the deal were not disclosed. In October 2021, Hub International's Specialty Program Group acquired healthcare liability insurance coverage provider, CM&F Group.

References

External links

* Financial services companies established in 1998 Companies based in Chicago Brokerage firms Insurance companies based in Illinois {{US-finance-company-stub Apax Partners companies