Insurance broker Hub International Ltd. announced it has acquired Porchlight Financial, based in Vancouver, British Columbia.
Terms of the transaction were not disclosed.
Porchlight Financial is a full-service group retirement plan consulting firm with 25 years of experience in helping employers and employees achieve better pension outcomes. Porchlight Financial specializes in group retirement plan member advisory services, financial wellness programs, retirement lifestyle and income planning, said Chicago-based Hub in a statement.
“With the addition of Porchlight Financial, Hub continues to create a robust Canadian benefits and pension solution for our clients,” said Dave Terry, president and CEO of Hub International Canada West ULC. “Their expertise will deepen Hub’s services to help clients create a more comprehensive benefits package in order to attract the talent they need and want.”
The move further reinforces Hub’s ongoing Canadian employee benefits growth and services strategy to assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits and pension solution.
“Hub is a first-class insurance brokerage firm, with a talented team of individuals equally committed to finding ways to continually improve the client experience in the employee benefits and retirement space,” said Chris Forman, managing director of Porchlight Financial, who will join Hub.
“We look forward to collaborating with Hub to provide a full suite of benefit and retirement offerings to more than 130,000 property & casualty customers of Hub across Canada,” he said.
Source: Hub International Ltd.
Topics Mergers & Acquisitions Canada
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