Hub International Limited (Hub), a global insurance brokerage, has acquired the assets of Harris, Madden, Powell, Stallings & Brown, Inc. (HMP). Terms of the transaction were not disclosed.
HMP is an independent, full-service commercial, surety, employee benefits and personal lines agency in Memphis, Tennessee. HMP focuses on construction, distribution, manufacturing, and healthcare, as well as alternative risk options, which will strengthen and complement Hub’s existing capabilities in specialty practices.
Cooper Jones, president of Hub Mid-South, said the acquisition in west Tennessee is an important component of its expansion in Hub Mid-South, which includes operations in Tennessee and Kentucky.
HMP’s leadership, Mark Harris, Jay Madden, Rick Powell, Ric Stallings, Keith Brown, Wally Jones, Cooper Permenter and Blake Dickens, as well as all full-time employees, will remain in place at HMP’s existing offices in Memphis and Oxford, Miss.
Headquartered in Chicago, Illinois, Hub International Limited is a full-service global insurance broker providing property and casualty, life and health, employee benefits, investment and risk management products and services.
Topics Mergers & Acquisitions
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