• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Contact Us

Agency Checklists

Massachusetts Insurance News & Job Opportunities

You are here: Home / Insurance News | Massachusetts / Insurance Agencies | Mergers & Acquisitions / Hub New England Acquires CT’s Ion Insurance Corporation

Hub New England Acquires CT’s Ion Insurance Corporation

May 11, 2021 by AC Editor

On the heels of its April 21st acquisition of Massachusetts’ IBG Financial Partners, Hub New England has acquired another New England agency, the Ion Insurance Corporation of Connecticut.

Headquartered in Cheshire, Connecticut, Ion Insurance is a full service, independent insurance agency providing personal and business insurance solutions throughout the region. According to the terms of the transaction, David Drescher, Managing Director of Southern New England, as well as the rest of his Ion Insurance team will join Hub New England with the goal of leading Hub’s strategy in Connecticut. No further terms of the transaction were disclosed.

“We are excited to have David and his talented team join our group to strengthen our commitment and approach to Southern New England,” said Shawn McLaughlin, President of Hub New England. “With Ion Insurance, we will provide clients with the best of both worlds – the benefits of local services with deep resources and the strength of a national firm.”

David Rotatori, President & CEO of Ion Bank, stated that the sale will provide additional capital for the financial institution, allowing the Bank to reinvest into the communities that Ion serves and to continue with their expansion into other towns and cities in Connecticut. “Ion Bank is committed to serving our customers, communities and employees, and this transaction allows us more flexibility, benefiting all of these groups,” said Rotatori.

Ion Bank is donating a portion of the proceeds from the sale to its Foundation

Ion Bank also noted that a portion of the proceeds from the sale have been donated to the Ion Bank Foundation. Established in 1998, the Foundation has grown from an initial $2 million contribution by the Bank to more than $12.5 million in assets, through earnings and additional contributions. Since its inception in 1998, cumulative grants for purposes ranging from improving social services to enhancing the arts have exceeded $9 million.

Customers of Ion Insurance will see no change in their accounts as a result of the sale according to Drescher. “Ion Insurance customers will still be serviced by the same team they have come to know and trust. There will be no disruption to our customers, and they will benefit from the expertise and enjoy a wider array of products that Hub offers,” said Drescher.


Hub New England continues to grow its geographic footprint throughout New England

With the addition of Ion Insurance Corporation, Hub continues to grow its presence throughout New England. As one of the largest insurance brokers in the region, this latest addition marks the brokerage firm’s fourth agency acquisition in New England so far in 2021. The following is a list of other agencies that Hub New England has acquired recently and that have been covered by Agency Checklists:

  • Hub Acquires Massachusetts-Based IBG Financial Partners, LLC (April 23, 2021)
  • Hub NE Expands In Vermont With Finn & Stone, Inc. Acquisition (March 9, 2021)
  • Hub Acquires The Alpha Pension Group (January 26, 2021) 
  • Hub Acquires Its Second Massachusetts Agency In 2020 -Baystate Fiduciary Advisors, Inc. (November 17, 2020)
  • Hub Acquires Massachusetts-Based Lashua-LaChance & Poliks Insurance Agency, Inc. (May 19, 2020)
  • HUB New England Acquires The Insurance Center of New England (August 6, 2019)
  • Dadgar Insurance Acquired By Hub (December 18, 2018)
  • HUB New England Announces Two More Acquisitions In Massachusetts (March 13, 2018)
  • Hub Acquires FieldEddy (October 2014)

More about Hub International and Hub New England

Agency Checklists, MA Insurance Jobs, Hub International, MA Insurance News, Mass. Insurance News, MA Insurance Jobs

Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services. With more than 11,000 employees in offices located throughout North America, Hub’s vast network of specialists provides peace of mind on what matters most by protecting clients through unrelenting advocacy and tailored insurance solutions.

Since joining HUB in 2000, HUB New England has acquired the strongest partners in the region to expand its programs, specialties and capabilities. The company traces its roots back to some of the most well-known and reputable insurance agencies in the area that operate today as HUB New England. Our business model allows our clients to receive the many benefits of a national network at a local level.

Filed Under: Insurance Agencies | Mergers & Acquisitions, Latest News Tagged With: Agency Checklists, Hub New England, insurance agencies sold in New England, massachusetts insurance news, New England Insurance News

Primary Sidebar

New Episode

MA Insurance Lawyers

MA DOI Advertisements

Career News

Insurance News Massachusetts and US Market Share

Travelers Announces 2025 Personal Insurance Agent of the Year Award Honorees

WTW Appoints Lofstrom as Deputy Regional Leader New England

WTW Appoints Lofstrom as Deputy Regional Leader New England

PIA Connecticut & CTYIP Elects Officers for 2025-26; McKiernan Named President

Vermont Department of Financial Regulation Commissioner Appointed

View More Career News

In Memoriam

In Memoriam: Joseph Lombard, 98, Founder of Corinthian Insurance In Medway

In Memoriam: Michael Ray Christiansen, 1953-2025

In Memoriam: William Brooks, 1930-2025

Company News

New York Liberty and Liberty Mutual Insurance Announce Multiyear Partnership

Progressive Planning To Hire 12,000+ in 2025

MassDOT and Fundación MAPFRE Announce Finalists in Road Safety PSA Contest

Call for Applicants! 2025 Central MA CPCU Society Scholarships

New England Newswire

New Hampshire Insurance Department Announces New Licensing Exam Vendor

May 9, 2025 By AC Editor

Prometric Will No Longer Offer Licensing Exams For NH

New Hampshire Insurance Department Updates Guidance for Licensee Disclosure Requirements

May 1, 2025 By AC Editor

Guidance For Insurance Producers and Adjusters in Meeting State-Mandated Requirements

New Hampshire Insurance Department Issues Guidance on Virtual Claims Adjustment Systems for Automobile Repairs

April 25, 2025 By AC Editor

Guidance Comes in Form of Bulletin #INS 25-031-AB

New Hampshire Insurance Department Issues Guidance to Help Granite Staters Understand Homeowners Insurance Coverage Levels

April 2, 2025 By AC Editor

Published New Document Outlining Differences Between Actual Cash Value (ACV) and Replacement Cost Value (RCV) When Selecting Homeowners’ Insurance Coverage

Insurance Fraud

Feds Sue Insurers and Brokers for Illegal Kickback Scheme

FBI Boston Warns Quit Claim Deed Fraud on the Rise

Newburyport Man Pleads Guilty in $2.2 Million Home Repair Insurance Fraud Scheme

Caught: Contractor’s Tax And Premium Fraud Lead to Prison

More Insurance Fraud News

Footer

Agency Checklists

Contact us

We offer a variety of ways to get help promote your company or product.

Announcements
Email Sponsorships
Partnerships
Custom Collaborations

*Affiliate Disclosure

Please note that any of Agency Checklists’ articles might contain one or more affiliate links. This means that any subsequent purchase resulting from these links may result in a commission for us, but at no additional cost to you. For example, as an Amazon Associate, Agency Checklists earns a commission from all qualifying purchases. By working with affiliates we can continue to keep Agency Checklists subscription free. Thank you for your support.

Explore Our Archives

Copyright © 2025 · Agency Checklists · All rights reserved.

 

Loading Comments...