Hub is looking for specialists for financial institutions | Insurance Business America
Companies have “a long and cooperative relationship”
Mergers & Acquisitions
By Ryan Smith
International broker Hub International Limited has announced that it has acquired the assets of Red Rocks Financial. The terms of the transaction were not disclosed.
Founded in 2004, Red Rocks Financial provides specialty insurance products and services to financial institutions nationwide. The acquisition supports Hub’s financial institutions’ practices by complementing and strengthening their existing capabilities, Hub said.
“We are proud of the business we have built in the financial institutions market and appreciate the trust our clients have placed in us over so many years,” said Jeff Stuepfert, President of Red Rock Financial. “Hub gives us the scale, scope and additional resources that come with being part of a larger, specialty-focused organization. By joining forces, we are able to offer our customers an expanded range of products and services while providing the same level of expertise and customer service that they have come to expect from us.”
Red Rock Financial will join Hub’s banking and financial institutions unit, Hub Financial Services.
“We are very pleased to welcome Red Rock Financial’s specialty financial institutions practice to Hub Financial Services,” said Scott Eckerty, President of Hub Financial Services. “We have a long and collaborative relationship with Red Rock Financial. Their expertise in providing insurance solutions to financial institutions will enhance our capabilities and allow us to provide a high level of service to our clients in this market.”
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