Chicago-based insurance broker Hub International Limited reported net income increased by close to half as it prepares to become a private company.

Hub reported net income in the first quarter increased 46 percent, or $7.8 million, to $24.8 million from the same period last year. Earnings per share rose 14 cents to 60 cents a share. Revenues increased 28 percent, or $38 million, to $172 million.

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