Woodbridge, Ont.-based managing general agency (MGA) Hub Financial Inc. continued to expand this week with the acquisition of Thornhill, Ont.-based MGA Cortex Financial Inc.
Chicago-based Hub International Ltd., Hub Financial’s parent company, announced the transaction on Monday.
The acquisition broadens Hub Financial’s footprint in Canada and its reach to financial advisors and insurance brokers seeking multi-fund insurance and risk solutions, the company said.
The business will be managed out of Hub Financial’s Woodbridge, Ont. office.
It’s the latest in a recent string of acquisitions by Hub Financial and its parent company, including Edmonton-based Progressive Home Warranty Solutions Inc. and Surrey, B.C.-based Pacific Home Warranty Insurance Services Inc. in early April, and Niagara, Ont.-based MGA Partners Inc. in December, along with numerous U.S. acquisitions.