Chicago – Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired seven related firms in Michigan, including Johnston Lewis Associates, Inc; Business Benefits Resource, LLC, Joseph Aiello & Associates, Inc.; T. Souphis Insurance Consulting LLC; Custom Results Corporate Consulting; Creative Benefit Solutions; and Health Insurance Consultants (collectively, Project Motown Holding Company). Terms of the transaction were not disclosed.
Headquartered just outside of Detroit in Troy, Michigan, the seven firms have been working together since 2012 as members of ICA, one of the largest independent insurance brokerage firms in Michigan. Project Motown Holding Company (Project Motown) is a platform agency with more than 60 employees, specializing in commercial insurance, employee benefits, employer compliance requirements, HR technology, employee wellness and wealth management services. The addition of Project Motown makes Hub one of the largest leading brokers in Michigan.
“This is a game-changer for us, and more importantly, for our clients in the State of Michigan,” said Caroly Hofstee, President of Hub Midwest East. “Our combined capabilities and vast experiences provide clients with enormous depth of services in multiple key areas, especially in employee benefits, property and casualty, employer sponsored retirement plans, and wealth management.”
The seven member firms’ leadership, including Jay Sawmiller, Greg Liposky, Dan Wilhelm, Steve McCain, Steve Rosser, Joe Aiello, Jim Bokshan, Ed Clink, Diane Christensen, Ted Souphis, and their respective teams will join Hub Midwest East.
“Hub’s infinite deep bench resources, and talented and specialized teams, enables us to offer significantly expanded expertise and solutions to our clients,” said Liposky. “We look forward to continuing our commitment to serve the regional community, elevating our clients experience and deliver best in class consultative solutions — a shared core value among all of our firms.”
The firms were represented by the consulting firm Reagan Consulting for the transaction.
SOURCE: Hub International Limited
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