Hub pounces on specialist in financial institutions | Insurance business America

The companies have had “a long and collaborative relationship”

Fusions and acquisitions

By Ryan Smith

International broker Hub International Limited has announced that it has acquired the assets of Red Rocks Financial. Terms of the transaction were not disclosed.

Founded in 2004, Red Rocks Financial provides specialized insurance products and services to financial institutions across the country. The acquisition supports the practices of Hub financial institutions by complementing and strengthening their existing capabilities, Hub said.

“We are proud of the business we have built in the financial institutions market and appreciate the trust our clients have placed in us over so many years.” said Jeff Stuepfert, president of Red Rock Financial. “Hub gives us the additional size, scope and resources to be part of a larger, specialty-focused organization. By joining forces, we will be able to offer our customers an expanded range of products and services, while still delivering the same level of customer experience and service they have come to expect from us.”

Red Rock Financial will join Hub’s banking financial institutions unit, Hub Financial Services.

“We are delighted to welcome the Specialty Financial Institutions practice of Red Rock Financial to Hub Financial Services,” said Scott Eckerty, President of Hub Financial Services. “We have had a long collaborative relationship with Red Rock Financial. Their experience in providing insurance solutions for financial institutions will enhance our capabilities and allow us to provide a high level of service to our clients in this market.”

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