Chicago-based Hub International Ltd. has acquired Fredricksen Insurance Services, a Hemet, Calif., agency, as well as acquired PMT, Fredricksen’s retail brokerage subsidiary. Fredricksen’s operations will become part of Hub International of California Insurance Services Inc. Terms of the transaction were not disclosed.
Fredricksen, primarily a wholesale broker, was established in 1986 to handle equine and agri-related insurance risks throughout the United States. HUB California’s existing office in Hemet will combine with the Fredricksen operation at Fredricksen’s location.
Kirk Christ, president of HUB California, said the addition strengthen’s Hub’s capability in Fredricksen’s core business, while giving Hub a property/casualty operation in the Hemet – San Jacinto Valley. “Part of our long-term strategy is to expand what we can offer through this office. By joining forces, Hub now has gained a wholesale operation based on the West Coast,” he said.
Source: Hub
Topics Mergers & Acquisitions California
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