NU Online News Service, Dec. 9, 1:20 p.m. EST
Hub International Ltd. said it has acquired the assets of Glendive, Mont.-based insurance brokerage firm Associated Insurance Managers, Ltd. Financial terms were not released.
Chicago-based Hub brokerage said AIM was founded in 1968 and has four locations in Montana. Hub declined to release further information about AIM.
The brokerage said the AIM team will become part of the Hub Mountain States operation and will continue to operate from their current offices. The acquisition, said Hub, will expand its presence into a new territory between Billings, Mont., and Bismarck, N.D., where AIM has a major presence.
Tim Barnes, president of Hub Mountain States, said in a statement, "By adding this talented group of professionals to our growing number of strategic offices we will increase our ability to explore the many opportunities for energy firms and beyond that exist in this region. AIM's impressive organic growth in recent years and top-notch staff will make them a wonderful addition to our operation."
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