NEW YORK–Caution and selectivity were the words used to describe the acquisition strategy being employed by three chief executives of privately held brokerage firms at a recent insurance conference here.
The comments came during a panel discussion here this week at the Standard & Poor's "Insurance 2008 Conference: Operating Within a Global Economy."
Martin P. Hughes, chairman and chief executive officer of Chicago-based Hub International, said his brokerage has two goals in mind when it looks at an acquisition: footprint and margin. He noted that Hub has an established footprint now, so he is more concerned with the margin when considering a deal. He said that if he feels a deal will not build more margin, then he will not execute it.
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