Hub continues acquisition thrust, buys BenefitLink Resource Group
Chicago-based global insurance brokerage Hub has acquired BenefitLink Resource Group, an Edmonton-based independent benefit and retirement consulting firm.
Hub International in 2018 began an aggressive acquisition strategy in Canada. By January 2019, the firm had acquired 13 Canadian brokerages, increased fee revenue by more than $50 million, and established seven new offices. Hub also created over 100 new jobs, and plans to create at least 100 more jobs by 2021. The firm has set a goal of achieving more than $100 million in commission fees by 2021 in Canada, while opening more than 10 new offices.
The company has 170+ offices in Canada, and has more than 130,000 property & casualty customers in the country. Hub has more than 11,000 employees and over 400 offices in North America, providing products and services in property & casualty, life & health, employee benefits, investment, and risk management.
Hub has continued its expansion in Canada throughout 2019, acquiring in the last three months Alberta-based Clarity Benefits Group, Saskatchewan broker Cottenie and Gardener, BC-based retirement plan consultancy Porchlight Financial, and Albertan broker Berk Bilgen Insurance.
The Chicago-headquartered firm this month acquired Edmonton’s BenefitLink Resource Group, a benefits and retirement consultancy which works to drive efficiencies and simplify the management of benefits and retirement plans.
The move extends Hub’s continuing Canadian employee benefits growth and services strategy, which aims to deliver a complete employee benefits and pension solution across the country.
"Businesses today need to proactively manage and navigate the ever-changing benefits and retirement landscape, which is why we've been building on our capabilities in these areas in Canada," David Moon, president of Hub International Barton Insurance Brokers, a division of Hub International Canada West ULC (Hub Barton). "BenefitLink Resource Group has the experience along with the resources, tools, and innovative proprietary products and services that will help us meet and exceed client expectations."
BenefitLink’s owner, Jay Kemp, will join Hub Barton and will report to the senior executive team.
"Hub is the ideal firm from which we can advise clients on a broad spectrum of employee benefit and retirement issues locally, nationally, and globally," Kemp said. "Our team looks forward to helping the firm grow in these areas, where the demand for these services continues to increase."
