Hub New England announces two acquisitions in the same week, both former independent insurance agencies
Hub New England, now one of the largest insurance brokerage firms in country, has announced two new acquisitions in Massachusetts this month.
On March 6th, the global insurance brokerage firm announced that it has acquired the assets of Rubino Enterprises Inc. Rubino Enterprises was formally known as the TYG Insurance Agency (TYG Insurance), an independent agency offering both commercial and personal lines products.
According to the terms of the transaction, Maurice Rubino, Principle of TYG Insurance will join Hub New England upon the sale of his agency. He will report directly to Charles Brophy, CEO of Hub New England. No further terms of the transaction were disclosed.
“It is a pleasure to welcome Maurice to Hub. TYG will be a great addition to our organization,” said Mr. Brophy in commenting on the acquisition., Mr. Brophy said,
Founded in 1972, TYG Insurance has been an independent insurance agency for over four decades in Arlington.
Hub New England acquires former independent agency in Western Mass.
Two days after announcing its acquisition of the TYG Insurance Agency, Hub New England announced it had also acquired the assets of the Leitao Insurance Agency, Inc., based in Ludlow.
Founded in 1983 by Francisco Leitao, the family-owned and operated independent agency is multi-line insurance brokerage firm offering both Personal and Commercial lines products. Further terms of the transaction have not been disclosed.
“The Leitao Team will be a welcome addition to HUB New England and we look forward to having them on board and continuing to serve their valued clients,” said Timm Marini, President of Personal Insurance at HUB New England.
A little bit more about Hub International in New England
Hub New England is part of Hub International, a top 10 global insurance broker offering property and casualty, life and health, employee benefits, investment and risk management solutions.
Based in Wilmington, the agency now boasts over 485 employees working in more than 18 locations in Massachusetts, New Hampshire and Rhode Island. Charles Brophy, who is the current President and CEO of both Hub International New England and Hub International East Region, was selected as the 2016 Insurance Professional of the Year by the Insurance Library Association of Boston.
According to a Boston Business Journal 2017 ranking of Massachusetts insurance brokers, Hub New England become the largest insurance broker in Massachusetts.