Hub International Limited said the Chicago-based brokerage has acquired Salt Lake City, Utah-based Kaufman & Kaufman Insurance. Terms of the deal were not released.
Kaufman & Kaufman, founded in 1965, is an independent brokerage firm with revenue reported at $9 million.
The acquired firm, Hub said, specializes in transportation-related coverage and represents over 40 U.S. insurance carriers that specialize in transportation risks. In addition to its core Salt Lake City operations, the firm operates a premium finance division and satellite offices in Boise, Idaho; Portland, Ore.; and Denver, Colo.
Hub said with the acquisition it would expand its specialization in transportation insurance brokerage. It would also establish a specialty office headquartered in Salt Lake City with Dale Kaufman, president of Kaufman & Kaufman, as its president.
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