NU Online News Service, April 3, 3:30 p.m. EDT
Chicago-based insurance broker Hub International Ltd. said Hub Financial, its Canada-based managing general agency, has completed the acquisition of Best Advice Financial Services. Transaction terms were not released.
Best Advice, founded in 1997, is a life insurance MGA offering a variety of financial products, based in the greater Toronto, Ontario, Canada area.
Hub said the acquisition will enable Hub Financial to strengthen its relationship with Industrial Alliance, Best Advice's primary insurance carrier.
The team from Best Advice, which includes over 100 servicing brokers working from one location, will now be able to offer an array of diversified carrier products by accessing the many markets with which Hub Financial currently has relationships, Hub said.
Hub also said the acquisition gives Hub Financial a stronger foothold in the Toronto area.
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