Hub Adds To Its Portfolio – Hub International has added another acquisition to its portfolio, acquiring Creative Business Solutions Group Inc.
Hub confirmed the acquisition of the employee benefits firm’s assets in a news release, but did not disclose the terms of the transaction.
Melville, New York is the home of Creative Business Solutions. It focuses on group health benefits, Medicare plans, ancillary benefits, and property and casualty insurance.
As part of the deal, the company’s president, Jason Anker, and the rest of the Creative Business Solutions team will join Hub Northeast.
Elsewhere in the US, Hub has just added to its Northwest presence with the acquisition of Washington-based Longbow Financial Services.
The international brokerage also recently released its 2024 Outlook Executive Survey, revealing a “major gap” between organizations’ perceived and actual risk preparedness.
The survey found that three fourths (75%) of organizations claim to be prepared for risks such as disruptions to business operations and economic challenges. However, a close 76% of organizations were also found to lack ample insurance to maintain profitability.
“In today’s world, risk is ever-present and constantly evolving, and being prepared is now a more complex undertaking,” said Hub president and CEO Marc Cohen in a news release about the survey’s findings.
“Hub’s advisors work with the C-suite to take a forward-looking approach to becoming future ready. By leveraging insurance to protect their financial stability and profitability, making investments in data analytics to improve workforce vitality, financial wellness and healthcare costs, and building a comprehensive business continuity plan to be resilient against future risks, they’ll be more prepared.”