Hub International Limited said the firm has made its firstpayment of $16.4 million in cash to approximately 70 employees ofthe acquired Talbot insurance brokerage firm.

Under the agreement, the Chicago-based Hub said it anticipatespaying $52-to-$55 million over three years under the performancepayment agreement or earn-out.

The Albuquerque, N.M.-based Talbot was purchased fromSeattle-based insurer Safeco in March 2004 for $90 million.

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