Hub International Ltd. has enhanced its personal and commercial insurance capabilities with the acquisition of Drayton Valley Insurance Agency, Ltd. in Alberta.

Chicago-headquartered Hub announced the acquisition of the brokerage based in Drayton Valley, Alta. in a press release Thursday. Terms of the transaction were not disclosed.

The independent insurance brokerage is a family owned business that has been serving the Drayton Valley community and vicinity for more than 40 years. It offers a variety of insurance products, including personal property (home, seasonal home, personal umbrella, home business insurance, hobby farm and watercraft), auto (personal passenger vehicle, motorcycle and recreational vehicle) and commercial (auto and fleet, D&O, bonds, repair garages and farm), among others.

Hub says Drayton Valley Insurance Agency owner Dale Jones and his team will join Hub Prairies. The brokerage will be referred to as Drayton Valley Insurance Agency, a Hub International company.

Hub’s latest acquisition comes on the heels of its announcement that it has appointed 30-plus year industry veteran Carol Murphy as North American Casualty Practice Leader. Murphy will lead the further development of Hub’s casualty practice, strengthening its strategic solutions to address current and emerging client needs across a broad range of industries and exposures.

“Continuing to invest in Hub’s commercial lines technical capabilities remains central to our growth strategy,” Chris Treanor, Hub’s president of programs and specialties, says in a Feb. 18 statement.

Hub’s most recent Canadian acquisition involved Saskatchewan-based farm insurance brokerage and parametric solutions company, Global Ag Risk Solutions. Hub announced the acquisition of Global Ag Risk Solutions Corp. and Global Ag Weather Solutions Corp., known as Parametric Ag (collectively Global Ag Risk Solutions) on Nov. 5, 2024.

Headquartered in Moose Jaw, Sask., the firm is a managing general agency for Aviva Canada, Canadian Underwriter reported last November. It provides full-service farm solutions, including parametric insurance and weather modelling technology to help clients protect the cost of crops and their profit.

 

Feature image by iStock.com/Cecilie_Arcurs