Insurance brokerage Hub International Ltd. has acquired of Davis Stoker Bodie Insurance Services, Inc., a California-based general insurance brokerage. Davis will become part of Hub International of California, Inc., the company’s West Coast hub, based in Los Angeles.
Substantially all assets of Davis were purchased for an undisclosed amount of cash. Davis, whose annual revenue is approximately US$600,000, was formed in 1986. Lee Davis, a senior partner of Davis, will join Hub’s California operation as a Vice President, reporting to Frank Hayes, President of Hub International of California, Inc.
Davis, who holds a BS in Industrial Management from the University of Southern California, has been in the insurance industry 21 years.
Hub International of California, Inc. is one of 11 regional “hubs” that make up Hub International Limited, one of the largest insurance brokerages in North America. Hub International’s growth strategy includes the acquisition of large entrepreneurial brokerages that service primarily middle market clients, and the expansion of these regional hubs through fold-in acquisitions of smaller, local firms. Since January 1, 2003 Hub has made eight fold-in acquisitions, including Davis.
Headquartered in Chicago, IL, Hub International is a leading North American insurance brokerage that provides 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 and Canada.