Hub makes another addition to roster

Hub makes another addition to roster | Insurance Business America

Insurance News

Hub makes another addition to roster

It swoops for a New York-based firm

Insurance News

By
Mika Pangilinan

Hub International has made another addition to its M&A roster, swooping for Creative Business Solutions Group Inc.

A news release from Hub confirmed its acquisition of the assets of the employee benefits firm, but it did not disclose the details of the transaction.

Creative Business Solutions is located in Melville, New York. It specializes in group health benefits group health benefits, Medicare plans, ancillary benefits, and property & casualty insurance.

As part of the acquisition, the firm’s president, Jason Anker, and the rest of the Creative Business Solutions team will become part of Hub Northeast.

Elsewhere in the US, Hub has just added to its Northwest presence with the acquisition of Washington-based Longbow Financial Services.

The international brokerage also recently released its 2024 Outlook Executive Survey, revealing a “major gap” between organizations’ perceived and actual risk preparedness.

The survey found that three fourths (75%) of organizations claim to be prepared for risks such as disruptions to business operations and economic challenges. However, a close 76% of organizations were also found to lack ample insurance to maintain profitability.

“In today’s world, risk is ever-present and constantly evolving, and being prepared is now a more complex undertaking,” said Hub president and CEO Marc Cohen in a news release about the survey’s findings.

“Hub’s advisors work with the C-suite to take a forward-looking approach to becoming future ready. By leveraging insurance to protect their financial stability and profitability, making investments in data analytics to improve workforce vitality, financial wellness and healthcare costs, and building a comprehensive business continuity plan to be resilient against future risks, they’ll be more prepared.”

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