[January 09, 2013] |
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Hub International Acquires the Assets of Benefit Concepts
CHICAGO --(Business Wire)--
Hub International Limited (Hub) announced today that it has acquired the
assets of Benefit Concepts, Inc. (BCI), a Shreveport, Louisiana-based
employee benefits brokerage firm. Terms of the acquisition were not
disclosed. BCI will become part of the Texas operations of Hub
International Insurance Services (Hub Texas). Troy Davis, Principal,
will join Hub, reporting to Jack McGrath, President and CEO of Hub Texas.
BCI specializes in employee benefits programs for middle market
businesses, with expertise in many areas including voluntary and
self-funded programs. It offers vlue-added services, including a
proprietary benefits administration system that provides a streamlined
billing process to reduce the workload of clients' human resources
departments and an open enrollment platform for voluntary benefits. This
acquisition expands Hub Texas' footprint and employee benefits
capabilities.
"BCI has an excellent reputation as a leader in employee benefits
throughout Louisiana and Texas, and we welcome them to our team,"
commented Jack McGrath. "This transaction will provide Hub with the
opportunity to serve BCI's customers and offer them the many products of
a global, full service brokerage. BCI has built a significant practice
for voluntary benefits that will benefit many of our existing clients as
well."
Headquartered in Chicago, IL, Hub International Limited is a leading
global insurance brokerage that provides a broad array of property and
casualty, life and health, employee benefits, investment and risk
management products and services through offices located in the United
States, Canada, Puerto Rico and Brazil.
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