HUB EXPANSION TARGETS CONSTRUCTION MARKETS
Hub International Limited, a global leader in insurance brokerage and financial services, announced the acquisition of the assets of R.K. Gore & Associates, an independent insurance agency based in Lehi, Utah.
November 14, 2024, Hub International Limited, a global leader in insurance brokerage and financial services, announced the acquisition of the assets of R.K. Gore & Associates, is an independent insurance agency based in Lehi, Utah.
The acquisition enhanced Hub’s presence in the residential construction insurance market, a sector where R.K. Gore & Associates had established significant expertise. Following the transaction, the agency began operating under the name "R.K. Gore & Associates, a Hub International company."
Robert Gore, the agency’s owner, along with his team, joined Hub’s Southern California and Utah divisions. Hub executives emphasized that the integration of Gore & Associates' construction-focused capabilities with Hub’s existing offerings would further strengthen the firm's Specialty practice. MarshBerry served as the financial advisor to R.K. Gore & Associates in facilitating the transaction.
The move aligned with Hub’s long-term strategy of growth through both organic expansion and strategic acquisitions, aimed at broadening its geographic presence and enhancing industry-specific expertise. This approach has been integral to the firm's commitment to expanding its service offerings in niche markets such as residential construction insurance.
Previous Strategic Acquisitions in Utah and California
This latest acquisition followed a series of strategic expansions by Hub in recent years. In March 2024, Hub acquired the assets of Bolds Risk & Insurance Services, a Larkspur, California-based firm specializing in commercial and personal insurance and risk management services. This acquisition strengthened Hub’s footprint in the California market, particularly for commercial and individual clients.
In 2022, Hub acquired Dale Barton Agency, headquartered in Salt Lake City, Utah. The agency, known for its expertise in commercial insurance and surety bonds, serves a diverse client base that includes businesses, contractors, motor carriers, and specialty subcontractors, focusing on construction and transportation.
Headquartered in Chicago, Illinois, Hub International offers various services, including risk management, insurance, employee benefits, retirement solutions, and wealth management. The company’s continued expansion underscores its commitment to delivering specialized expertise and comprehensive service across various industries.
