Chicago-based Hub International Ltd. is acquiring the employee benefits practice of Rise People Inc., the global insurance brokerage announced Monday.
Based in Vancouver, Rise offers an online platform of human resources, time tracking, payroll and benefits administration tools to Canadian employers.
Terms of the transaction were not disclosed.
As part of the acquisition, Hub will begin offering Rise People’s services to its clients. Jesse McNeil, director of group benefits at Rise People, will also join the company and report to Faizal Mitha, chief innovation officer of Canadian employee benefits at Hub.
The move is the latest in a series of acquisitions by Hub to grow its presence in the employee benefits and pension market.
In November, Hub acquired Toronto-based Toronto-based Proteus Performance Management Inc. and in April Hub bought Windsor, Ont.-based employee benefits firm The Benefits Company Inc.
Hub International is the parent company of Woodbridge, Ont.-based managing general agency Hub Financial Inc.