Chicago – Hub International Limited (Hub), a leading full-service global insurance brokerage and financial services firm, announced today that it has acquired the employee benefits assets of HORAN Associates, Inc. and HORAN Smart Business, LLC (collectively HORAN Health). Terms of the transaction were not disclosed. With HORAN Health, Hub creates a new regional hub to be called Hub Heartland.
HORAN is one of the largest privately held insurance and financial services organizations in the Cincinnati Tri-State area. HORAN Health’s nearly 120 employees in Ohio and Northern Kentucky will join Hub. HORAN Health provides employee benefits solutions to more than 650 small and mid-size companies, covering thousands of lives. HORAN Health serves both corporate and individual clients in 48 states.
“M&A continues to be an important part of HUB’s growth and provides opportunities for us to expand our geographic reach and services, and results in attracting top-tier firms such as HORAN Health,” said Marc Cohen, Hub’s President and Chief Executive Officer. “HORAN Health’s employees and clients will gain access to boundaryless resources, tools and specialists that are all part of Hub’s value proposition that will expand their capabilities and help them continue to grow their business by meeting their clients’ expanding and complex needs.”
The HORAN Wealth* division will continue to independently serve individual and corporate clients in the areas of retirement, investment advising, life insurance, financial planning, and social security under the leadership of current President and Chief Executive Officer, Terence L. Horan, CLU®, ChFC®, CAP®.
“For 75 years, our primary focus has been doing what’s best for our clients, helping them live healthy and productive lives through the bridge of insurance. The time has come for us to bolster our Health division and provide clients the breadth and depth of experience Hub offers,” said Horan. “The careful 18-month journey to find the most suitable partner led us to Hub. This acquisition ensures we will continue to support our community while broadening our service offerings and expertise. It also guarantees we can foster the HORAN Wealth story for generations to come.”
Hub Heartland will be led by Valerie Bogdan-Powers, President of HORAN Health. She will work with Neil Hughes, President of Hub’s U.S. Central Region. Bogdan-Powers has led HORAN Health’s overall strategy with a focus on growth for the organization. Prior to HORAN, Bogdan-Powers was in sales and brand management for over 20 years at Procter & Gamble. Bogdan-Powers is a graduate of Harvard University and holds her life and health insurance license.
“HORAN has built a reputation for delivering high-quality products and services to hundreds of clients for over 75 years, and we are excited about this next chapter,” said Bogdan-Powers. “Joining the Hub team means we gain national expertise and product expansion, and we maintain local autonomy. This acquisition provides growth opportunities for our employees and a new level of support for our clients.”
“HORAN Health joining us is a natural progression of our strategic growth plan in the Central Region,” said Hughes. “With the highly regarded HORAN Health team led by Valerie Bogdan-Powers, we significantly strengthen the depth of services to our clients, enhancing our position in the region. We are excited about the opportunities this will provide.”
MarshBerry served as financial advisor to HORAN for the transaction.
SOURCE: Hub International Limited
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