Hub International has acquired the assets of the full-service independent insurance agency Compass Insurance Services.
The terms of the transaction were not disclosed.
Based in Kronenwetter, WI, Compass Insurance Services has a total of eight locations which provide commercial and personal insurance, group health and benefits, in addition to individual life and health benefits. The agency focuses on various industries which include (but are not limited to) real estate, construction, transportation, healthcare, agribusiness, finance, and nonprofit.
According to Hub, the acquisition of Compass with its broad specializations enhances Hub’s specialty practices by complementing and strengthening its existing practices. Compass Insurance Services president John Guerndt and his team will join Hub Midwest West following the transaction.
“Compass Insurance Services is an ideal match for us as we continue our strategic growth plan in the Midwest,” said Hub Midwest West CEO Lerone Sidberry. “They are a highly regarded, experienced team, and we look forward to working with them as we provide differentiated value and services to our clients.”
“With John and the team on board, their talents and expertise will help us continue to strengthen our insurance services that will most benefit our clients in the region,” said Hub Wisconsin CEO Tom Precia.
“We are excited to join Hub, where we will continue to provide unmatched services and solutions for our clients in the region, and now on an even wider scale,” commented Guerndt.