Hub International Limited (Hub), an insurance brokerage and financial services firm, has acquired KT&D, Inc. Terms of the transaction were not disclosed.
Located in Wilmington, KT&D, Inc. provides multi-line insurance services, including medical malpractice, commercial and personal, and employee benefits coverage. KT&D’s expertise in healthcare supports Hub’s Specialty practice by complementing and strengthening its existing capabilities, a release stated.
Scott Yerkes, CEO, and Kelly McGovern, president, and the KT&D Inc. staff will join Hub Mid-Atlantic, according to the release.
Hub International is private equity financed insurance “roll-up” that acquires local agencies and taps into their areas of expertise.
The insurance business has been undergoing a period of consolidation as owners look at ownership succession, competition and other factors.
Headquartered in Chicago, Illinois, Hub International Limited has more than 14,000 employees in offices in North America,