CHICAGO — Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, announced today that it has acquired the assets of Basi Insurance Services, Inc. (Basi Insurance Services). Terms of the transaction were not disclosed.
With locations in Oakdale and Manteca, California, Basi Insurance Services provides commercial and personal insurance, and specializes in the agribusiness and farm industry, which supports Hub’s Specialty practices by complementing and strengthening its existing capabilities.
“Basi Insurance Services’s multi-lines capabilities and deep relationships across several ag specialties will add significant value to our clients and further strengthen our comprehensive services in Northern and Central California,” said Michael Der Manouel, Executive Vice President of Hub California Central Valley.
Randy Basi, President and CEO of Basi Insurance Services, will report to Der Manouel. The Basi Insurance Services team will join Hub California.
“We’re excited to join Hub and provide a one-stop-shop for all of our clients’ growing needs,” said Basi. “We look forward to accessing Hub’s risk and compliance resources to grow our business and deliver a higher value to clients.”
MarshBerry served as financial advisor to Basi Insurance Services in the transaction.
Source: Hub International
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