NU Online News Service, Jan. 4, 2:15 p.m. EST
Hub International is acquiring Associated Independent Agencies, and Arthur J. Gallagher is acquiring Capital Bauer Insurance Agency, Inc., the brokerages announced in separate statements.
Chicago-based Hub says Associated Independent Agencies, Inc. (AIA) is a Pullman, Washington–based insurance brokerage firm that will become part of Hub International Mountain States Ltd.
Founded in 1985 through the consolidation of two long-standing agencies, AIA is a major broker in easternWashingtonand westernIdaho. AIA offers personal, commercial and employee benefits solutions, with a deep niche in serving the insurance and risk-management needs of small businesses, including the crop industry. In addition to itsPullmanheadquarters, the firm has 14 locations throughout the region.
AIA principals Tom Lees, chairman; Mike Rydbom, president; and Les Ruhs, secretary, will joinHubMountainas a result of this transaction. Lees will serve as a member ofHubMountain's executive committee, reporting to Tim Barnes, president,HubMountain.
Itasca, Ill.-based AJG says Capital Bauer, based inAlbany,N.Y., was founded in 1957. It is a retail insurance broker providing property and casualty, employee benefits and risk management insurance services for commercial and personal lines clients throughout theUnited States. The firm specializes in placing coverage for the real estate, public entity, higher education, recording studio and water-well drilling industries.
David Bauer and his team, approximately 40 employees, will continue to operate in their current location under the direction of Douglas Brown, Northeast regional manager of Gallagher's retail P&C brokerage operation.
Terms of both transactions were not released.
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