Hub continues M&A strategy amid COVID-19 crisis
Insurance brokerage Hub International has acquired the assets of New York-based insurance agency The B&G Group.
B&G provides commercial insurance to various industries, including real estate, business services and construction.
The acquisition strengthens and complements Hub's existing capabilities in specialty practices.
Evan Bower, president of The B&G Group, will join Hub Northeast and report to Doug Schenendorf, president of Hub's Long Island division.
"Hub continues to remain active and thoughtful in our M&A strategy throughout the COVID-19 crisis," said Marc Cohen, president and CEO of Hub. "Partnering with The B&G Group is a testament to our commitment to M&A and to our continued growth in New York. The B&G Group brings expertise in key industries that align well with Hub and their strong presence in Long Island enhances our reach in New York while opening opportunities for us to bring a wider, diverse set of solutions to their customers, including retirement solutions, employee benefits and personal insurance."
Paul Collins, president and CEO of Hub Northeast, added: "Adding The B&G Group to our region is transformative. B&G not only enhances our scale on Long Island, but the combination of our teams of insurance professionals will provide our clients with an unparalleled service, risk mitigation and claims advocacy experience."
Bower commented: "Hub has a strong reputation in the insurance industry with similar values and a shared commitment to clients. I know we can continue to grow and support our clients in many of the areas where Hub possesses a unique expertise and breadth of relationships."
