Hub International Acquires Assets of New Mexico-Based Free Market Insurance Agency
Acquisition establishes new avenue for providing broader employee benefits, risk services and personal insurance
CHICAGO--(BUSINESS WIRE)--Hub International Limited (Hub), a leading global insurance brokerage, announced today that its Hub International New Mexico division (Hub New Mexico) has acquired the assets of Free Market Insurance Agencies, LLC, an Albuquerque, New Mexico-based insurance brokerage firm (Free Market). Terms of the acquisition were not disclosed. The acquisition provides Free Market clients with access to the global resources, services and network of Hub’s property and casualty, employee benefits, risk services and personal lines solutions while continuing to extend Hub’s local market reach in New Mexico. This is Hub’s second acquisition in the state in two months.
“His motivation and professional aspirations exemplify the team member profile for which Hub is looking.”
Free Market’s Albuquerque-based team will relocate to Hub New Mexico’s newly-renovated Albuquerque headquarters. Michael Dennis, President of Free Market, will join Hub New Mexico as a Client Executive, Vice President for the region.
“Michael’s entrepreneurial spirit has enabled him to establish and build a robust organization and client base early in his long, promising career,” said Randy Perkins, President of Hub New Mexico. “His motivation and professional aspirations exemplify the team member profile for which Hub is looking.”
Free Market has established a concentration of clients in the restaurant/hospitality, construction, healthcare and financial services industries, providing commercial liability, property and casualty and personal lines home and auto insurance. Hub’s breadth of employee benefits, voluntary benefits, risk and business continuity services, and expanded personal lines insurance including asset and lifelong investment coverage will round out a comprehensive offering for Free Market’s existing clients.
Headquartered in Chicago, IL, Hub International Limited is a leading global insurance brokerage that provides property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States, Canada and Latin America.