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Chicago-based insurance brokerage Hub International Ltd. has acquired Windsor, Ont.-based independent group benefits and retirement firm The Benefits Company, Inc. (TBC), the companies announced on Tuesday.

The acquisition bolsters the group benefits offering at Hub International, which is the parent company of Woodbridge, Ont.-based managing general agency Hub Financial Inc.

TBC’s advisors specialize in group benefit and retirement programs. The firm offers products and services from more than 15 supplier companies.

TBC also offers a proprietary pension governance and member care system called the Greenlight Retirement Program, which combines defined contribution registered pension plans into a single program that consolidates the governance function for all sponsors.

“The addition of TBC will greatly strengthen our retirement and benefits operations in Ontario,” said Greg Belton, executive chairman of Hub Ontario, in a statement.

TBC’s satellite offices, located in London, Sarnia and Ancaster, are not included in the acquisition.

Rob Tamblyn, president of TBC, will report to Belton.

“Joining Hub allows TBC to leverage the resources of one of North America’s largest insurance brokers and enhance our dedication to exceptional, consistent client services,” said Tamblyn in a statement.

Terms of the acquisition were not disclosed.