NU Online News Service, April 6, 1:57 p.m. EDT
Chicago-based insurance broker Hub International Ltd. said that its wholesale insurance broker in Canada, Totten Insurance Group Inc., has acquired Norac Intermediaries. Financial terms were not released.
Hub said Norac Intermediaries is an insurance brokerage wholesaler located in Varennes, Quebec, focusing primarily on casualty business, working with over 200 insurance brokers throughout the region.
Hub said the combination of Totten and Norac makes Totten one of the largest intermediaries in the province. Joining the two firms together also enables Totten to provide expanded casualty insurance offerings to the 2,000 brokers Totten currently works with across Canada.
Last week, Hub also announced the acquisition of Best Advice Financial Services, a life insurance MGA, based in greater Toronto, Ontario, Canada.
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