Hub notches 2 more benefits acquisitions

Hub International Ltd. picked up two more benefits firms this week, following its announcement of a deal on Monday for $2.3 billion 401(k) consultant Fiducia Group.

Today, Hub, an insurance brokerage and financial services provider, disclosed a deal to acquire assets from Libertyville, Illinois-based Benefit Partners Group, which advises on 120 retirement plans totaling $290 million.

That followed another deal the company announced Thursday, buying the business of New York City-based Gold Sky Benefits. That boutique firm consults on various employee benefits, including health insurance, property and casualty, wellness and student loan payment services. It is unclear how much of Gold Sky’s business involves retirement plans — that is not listed as a featured service on the company’s site, and Hub did not disclose the size of Gold Sky’s retirement business.

The other firm, Benefit Partners Group, also provides group health, dental, life and disability insurance. Benefit Partners founder Russell Warye and the rest of that team are joining Hub’s Midwest group, the companies stated.

The Gold Sky managing partners and team are joining Hub Northeast.

This year, Hub has acquired at least 69 firms, as many as 17 of which are in its retirement and private wealth unit, according to figures from the company.

The post Hub notches 2 more benefits acquisitions appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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