Insurance broker Hub International Limited said it has completed a share and cash exchange giving HKMB International Insurance Brokers a stake a in Hub.
As announced last month, HKMB will become a new regional platform and will carry on business as HKMB Hub International from its existing offices in Toronto, Ontario, Canada, the Chicago-based insurance broker said.
Hub said HKMB's existing ownership group converted a substantial portion of its equity in HKMB to equity in Hub's parent company. No additional details were released.
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