HUB International builds transport insurance business through acquisitions
Chicago insurance broker HUB International will expand its activities in the transportation business by acquiring Coburn Insurance Agency, a Vermont-based broker with annual revenues of $9 million.
This deal comes at the heels of HUB's October purchase of Kaufman and Kaufman in Salt Lake City, also with annual revenues of $9 million.
With the two purchases, HUB International said it has formed one of the country's largest transportation insurance specialty practices, with an emphasis on trucking.
Annualized revenue from its transport business will be about $25 million based on more than $200 million in premiums. HUB said it will have strong operations in both the eastern and western United States.
HUB International builds transport insurance business through acquisitions
