Hub Expands In New England, Alabama
NU Online News Service, Oct. 14, 10:37 a.m. EST?Canadian insurance broker Hub International, Ltd., with U.S. headquarters in Chicago, has announced the acquisition of two New England insurance agencies and an Alabama agency.
In New England, the firm said its subsidiary, C.J. McCarthy Insurance Agency, Inc., of Wilmington, Mass., acquired the Trussell Insurance Agency, Inc., of Newburyport, Mass., and the Trussell, Glidden and Mahoney Insurance Agency, Inc. of Greenland, N.H.
The two acquired agencies specialize in arranging insurance for real estate businesses, and earn, in total, approximately $1.3 million in annual revenue. Both firms will remain at their current locations.
Phillip Trussell, director of the Trussell organizations, will remain the senior executive of both companies. Rosemarie Glidden, president of Trussell, Glidden and Mahoney, will continue to supervise that group. Both have been named senior vice president of McCarthy and will report to Richard Palleschi, president of McCarthy, Hub said.
Hub also announced its Battle Creek, Michigan-based unit, Burnham Insurance Group, has acquired Warner Associates, Inc., a Montgomery, Ala., specialist in the direct marketing of life and health insurance coverage to retail customers of financial institutions.
Warner, founded in 1983, generates approximately $1.4 million in annual revenue, Hub said, and would remain in Montgomery. Warner will continue under the direction of Darrel Warner, its current chairman, president and chief executive officer. Mr. Warner will become a vice president at Burnham, reporting to James L. Harvin, executive vice president - financial institutions.
Terms of the three acquisitions were not disclosed.
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