Hub International Acquires Assets of Lafayette-Based Insurance Agency
NEW ORLEANS — Hub International Limited, a global insurance brokerage and financial services firm that places more than $1 billion worth of premiums in Louisiana, announced that it has acquired the assets of Dwight W. Andrus Insurance Inc., Dwight Andrus & Richard Insurance Inc. and DAI Shreve LLC. Dwight Andrus Insurance is a Lafayette, Louisiana-based insurance agency that manages more than $300 million in premiums throughout the state. Terms of the transaction were not disclosed.
For more than 75 years, Dwight W. Andrus Insurance has provided commercial insurance, surety and bonding, captive and alternative risk insurance, personal insurance, and employee benefits. The company has six additional locations in Louisiana.
“Joining Hub is a great move for Dwight Andrus Insurance – its employees, clients and community,” said Dwight Andrus IV, the company’s CEO and president. “We will continue operating in the way that has made us successful, while having access to the benefits, tools and resources that come with the fifth largest global broker. Hub is an excellent cultural fit for us, because they have a great reputation of being an industry leader in bringing creative and practical solutions to clients, while always doing what is right.”
“The Andrus team’s decision to partner with Hub reinforces our position as the broker of choice across the Gulf South region,” said Shaun Norris, president of Hub Gulf South and team lead for the transaction. “With the addition of Andrus Insurance, we double our commercial insurance presence, while adding a significant sales force concentrated in the western half of our state. This transaction represents one of the largest of its kind in Louisiana.”
Norris himself joined the Hub family through another acquisition more than a decade ago.
He once was chief sales officer at Hibernia Insurance, an insurance brokerage owned by Hibernia Bank. The agency was acquired by Hub, which is based in Chicago, in 2007. Four years ago, Norris assumed the role of Hub’s president of the Gulf South region.
Norris is optimistic about Hub’s latest acquisition, which follows several years of courtship. In addition to adding close to 30 producers, he said the deal strengthen’s Hub’s presence in personal insurance and employee benefits, specifically.
Dwight Andrus Insurance leadership — including Dwight Andrus IV, Dwight Andrus III and Charlie Babineaux — will join Hub Gulf South. The company was represented by Reagan Consulting during the transaction.
Hub International Limited is a full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. It claims more than 16,000 employees in offices located throughout North America.