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Ownership Changes HUB buys brokers from banks HUB International (www.hubinternational.com) acquires brokers in Louisiana and Arizona HUB International acquired Hibernia Insurance Agency in Louisiana and Milne & BNC Insurance Services of Phoenix, similar size firms that have been owned by banking organizations. Each will become a new regional platform for HUB. Hibernia Insurance Agency, LLC, is an $18 million revenue broker, employing 85 people at offices in Metairie, Lafayette and Baton Rouge. Steve Terry, president of Hibernia, becomes president of Hub International Gulf South (HUB Gulf South). Hibernia traces its history to Rosenthal Agency, Inc., founded in 1965. Since 2000, it has been operating as a subsidiary of Capital One Financial Corporation. Milne & BNC Insurance, which has been owned by BNC National Bank since 2002, has annual revenue of approximately $19 million. Its 85 employees are spread across four offices in Arizona—in Phoenix, Prescott Valley, Cottonwood and Tucson; three in North Dakota—in Bismarck, Mandan and Linton; and one in Englewood, Colorado. The North Dakota offices will be folded into HUB Mountain States and the Colorado office folded into HUB Southwest. Richard Milne, president of Milne & BNC Insurance, will become president of Hub International Milne (HUB Milne). Hub International also purchased insurance brokers from Fifth Third (in 2002) and Citizens Financial Group (in 2006). Arthur J. Gallagher & Co. (www.ajg.com) has acquired three agencies since the first of the year: ISG International of Cambridge, Maryland; Lowndes Lambert Group Canada, Ltd., of Toronto; and FIS Marine of Seattle ISG International functions primarily as an MGA, providing coverage for the information technology industry. Its clients include IT staffing and services, software development, systems integration, value-added resellers and e-commerce businesses. ISG was founded in 1971. ISG President G. Philip Feldman and other ISG employees will continue to operate the firm under the direction of RPS, a Gallagher subsidiary. Lowndes Lambert Group Canada, Ltd. (LLG) provides personal lines, commercial lines and risk management, specializing in insurance products for transportation, hospitality and pharmaceutical businesses. Philip G. Kane, president and CEO of Lowndes Lambert, will continue to lead the operation. LLG has eight offices in Canada. FIS Marine specializes in commercial marine coverages for fishing and passenger vessels, tugs and barges, and yachting industries. It will continue to operate in its Seattle location under the direction of James McFarlane, West Coast regional manager of Gallagher’s Brokerage Services Retail Division. Gowrie, Barden & Brett (www.gowrie.com) of Westbrook, Connecticut merges with Fisher & Fisher of Darien, Connecticut Gowrie, Barden & Brett writes commercial and personal lines business, and a subsidiary provides employee benefits and financial services. Fisher & Fisher specializes in personal lines. The new company will maintain offices in Darien and Westbrook and in Middletown, Rhode Island. * |
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