Chicago-based insurance broker Hub International Ltd. said its Hub International Transportation Insurance Services Inc. has acquired Templeton Southwest Insurance Agency Inc. Terms of the deal were not released.
The Texas-based insurance broker specializes in commercial trucking insurance services.
Headquartered in San Antonio, Texas, Templeton has approximately $3.3 million in annualized revenue. The firm was founded in 1982 by Dennis Templeton, an insurance veteran with over 25 years of industry experience.
Mr. Templeton, president of Templeton, will become vice president of Hub Transportation's Texas-based operations.
“The Templeton acquisition presents an impressive market opportunity to expand Hub Transportation throughout the state of Texas,” said Dale Kaufman, Hub Transportation's chief executive officer. “It also supports our initiative to further expand and intensify our transportation specialty focus.”
The acquisition is the second in Texas after the recent announcement that Hub would acquire The Rigg Group Inc., a major brokerage firm in the state (See NU Online, Aug. 1).
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