NU Online News Service, June 4, 1:45 p.m. EDT
Chicago-based insurance broker HUB International Ltd. said it has acquired the assets of Risk Transfer Insurance Alliance, LLC (RTIA), a Southborough, Mass.-based retail brokerage firm.
Financial terms of the transaction were not disclosed.
Formed in 2002, RTIA, with approximately $3 million in annual revenues, is an insurance brokerage firm with exclusive focus on health care industry clients in New England. The firm has offices in Shelton, Conn., and Portsmouth, N.H.
RTIA offers commercial property and casualty coverage and related risk management consultative services with a specific expertise in medical malpractice, workers' compensation and property insurance as well as related and emerging exposures specific to the health care community.
In connection with this acquisition, RTIA said its team will join the HUB International New England team and remain based in their existing offices. Shawn J. McLaughlin, president of RTIA, will continue to manage the operations of this group reporting to Michael Chapman at HUB International New England.
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