Hub Bolsters New England Presence with Strategic Acquisition of IBG
Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today the acquisition of Integrated Benefits Group Insurance Brokerage, Inc. (IBG), a Stoneham, Massachusetts-based employee benefits firm. This strategic move further strengthens Hub’s presence in the New England market and enhances its capabilities in providing comprehensive employee benefits solutions.
Details of the Acquisition
Located in Stoneham, Massachusetts, IBG provides employee and group benefit insurance and administrative services for small to medium businesses. The acquisition, finalized on July 12, 2024, will see IBG’s operations seamlessly integrated into Hub New England, operating under the name “Integrated Benefits Group Insurance Brokerage, Inc., a Hub International company.”
Leadership Transition
Tony Maffeo, CEO of IBG, along with his team of seasoned professionals, will join Hub New England as part of this acquisition. Maffeo has dedicated his career to advising business leaders on innovative benefit strategies, focusing on educating employees, leveraging technology, and implementing proven cost-saving strategies.
Shawn McLaughlin, President of Hub New England, expressed enthusiasm about the acquisition, stating, “We are excited to welcome Tony and the IBG team to Hub. We look forward to enhancing and supporting the IBG clients with the depth of our resources, as well as adding a very talented group of professionals to our team!”
IBG’s Strengths and Capabilities
IBG has built a strong reputation for leveraging technology to improve access to benefits, offering cost-saving strategies for insurance renewals, and providing 24/7 access to benefits information. These capabilities align perfectly with Hub’s commitment to delivering cutting-edge solutions in the ever-evolving landscape of employee benefits.
Synergies and Integration
The integration of IBG into Hub New England is expected to create synergies that will benefit both existing and new clients. IBG’s specialized knowledge in streamlined plan administration and cost-effective benefit strategies will complement Hub’s extensive resources and service offerings.
Benefits to Small-to-Medium-Sized Clients
This acquisition is poised to bring significant advantages to IBG’s existing clients, who will now have access to Hub’s broad range of insurance and financial services. As highlighted by Shawn McLaughlin, Hub’s depth of resources will enhance and support IBG’s client base. Simultaneously, Hub’s clients stand to benefit from IBG’s expertise in crafting tailored benefit solutions for small and medium-sized businesses.
About Hub International
Hub International Limited is a leading full-service global insurance broker and financial services firm that provides risk management, insurance, employee benefits, retirement, and wealth management products and services. With more than 14,000 employees in offices throughout North America, Hub’s vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy so clients are ready for tomorrow. For more information, please visit www.hubinternational.com.
About Integrated Benefits Group Insurance Brokerage
Integrated Benefits Group Insurance Brokerage, Inc. (IBG), based in Stoneham, Massachusetts, is a premier provider of employee and group benefit insurance and administrative services for small to medium-sized businesses. Known for its innovative approach to benefits administration, IBG offers a comprehensive suite of services, including medical, dental, and vision insurance. The company is committed to leveraging technology to streamline benefits enrollment and administration while delivering significant cost savings to its clients. For more information, visit www.ibgbenefits.com.
