Divestiture • Insurance

HUB International Acquires Near North National - Insurance Brokerage Operating Assets

On July 25, 2003, HUB International acquired insurance company Near North National - Insurance Brokerage Operating Assets from Near North National Group

Acquisition Context
  • This is HUB International’s 15th transaction in the Insurance sector.
  • This is HUB International’s 11th transaction in the United States.
  • This is HUB International’s 2nd transaction in Illinois.

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M&A Deal Summary

Date July 25, 2003
Target Near North National - Insurance Brokerage Operating Assets
Sector Insurance
Buyer(s) HUB International
Sellers(s) Near North National Group
Deal Type Divestiture

Target Company

Near North National - Insurance Brokerage Operating Assets

Chicago, Illinois, United States
Near North operations include property and casualty insurance brokerage, employee benefits and life insurance consulting, structured settlement services and facultative reinsurance intermediary operations primarily located in Chicago, Los Angeles, New York, Las Vegas, Arlington, Virginia and Dallas.
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Buyer Overview 1

Buyer

HUB International

Chicago, Illinois, United States

Category Company
Founded 1998
Sector Insurance
Employees10,000
Revenue 2.2B USD (2018)
DESCRIPTION
HUB International office in Burlington, North Carolina.
HUB International office in Burlington, North Carolina.

HUB International is a global insurance brokerage providing a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States (including Puerto Rico), Canada and Brazil. HUB International was founded in 1998 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 15 of 602
Sector: Insurance 15 of 547
Type: Divestiture 3 of 52
State: Illinois 2 of 23
Country: United States 11 of 476
Year: 2003 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2003-04-02 Wilson & McPherson

Madisonville, Kentucky, United States

Wilson & McPherson, Inc. is an insurance agency serves primarily mid-size commercial clients.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2003-08-01 Cross Border Underwriting Services

United States

Cross Border Underwriting Services, a Toronto-based wholesale insurance brokerage provides various insurance services and products.

Buy -

Seller Profile 1

SELLER

Near North National Group

Chicago,, Illinois, United States

Category Company
Founded 1962
Sector Insurance
DESCRIPTION

Near North National Group, Inc. is a provider of insurance brokerage, risk management, technology, and financial services to businesses and individuals internationally.


Deal Context for Seller #
Overall 1 of 1
Sector: Insurance 1 of 1
Type: Divestiture 1 of 1
State: Illinois 1 of 1
Country: United States 1 of 1
Year: 2003 1 of 1