Hub International Ltd. said the brokerage has acquired Santa Barbara, Calif.-based Ogilvy, Gilbert, Norris & Hill and the insurance book of Wescom Credit Union in Anaheim, Calif. No financial terms for either transaction were released.
Hub, based in Chicago, said Ogilvy, Gilbert, Norris & Hill will be known as Ogilvy Hill Insurance.
OHI offers commercial, personal and employee benefits products and has developed several niche programs for various industries including card clubs and arborists, Hub said.
OHI, with approximately $7 million in annual revenues, was founded in 1888.
Hub said the OHI team will become part of Hub International Insurance Services Inc. (Hub California) and will expand the firm's existing presence in the Santa Barbara and Thousand Oaks areas, while also adding a new office in Oxnard, Calif.
The firm said the book from Wescom Insurance Services, LLC includes commercial lines and life and health business. Wescom brokerage is a wholly owned subsidiary of Wescom Credit Union.
The members of the Wescom Insurance team will also join Hub California.
Hub said the transaction will expand Hub California's geographic footprint in Southern California by adding a strategic office in Downey, Calif.
Wescom, founded in 2004, works with middle market and small accounts, arranging property and casualty, employee benefits and life insurance programs.
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