Chicago-based insurance broker Hub International Ltd. said its Hub International Gulf South Ltd. unit has acquired Pickett & Adams Insurance Agency of Mobile, Ala. Terms of the deal were not released.

Founded in 1974 by C. King Pickett, Pickett & Adams is a full-service insurance agency with annual revenues of approximately $3.5 million. Mr. Pickett retired in 2003.

Spencer Adams III, Pickett & Adams chief executive officer, will now join Hub as executive vice president and report to Steven Terry, president of Hub Gulf South. The agency will remain at its current location.

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