What is the history of hub insurance?

HUB International started in 1998 when 11 Canadian insurance brokerages merged to build a national firm.

Founding and Early Expansion (1998–2006)

• 1998: Eleven Canadian brokerages merged to form HUB International Limited under founding CEO Martin Hughes.
• 1999: The company went public on the Toronto Stock Exchange and expanded into the United States and Western Canada.
• 2001: HUB moved its corporate headquarters to Chicago, Illinois, and acquired Kaye Group Inc.

Private Equity and Growth (2007–Present)

• 2007: Apax Partners and Morgan Stanley took HUB private in a deal valued at $1.91 billion.
• 2018–2025: Led by CEO Marc Cohen, the company expanded heavily through acquisitions of smaller regional brokerages and launched digital platforms like VIU by HUB.
• 2025–2026: Backed by majority owner Hellman & Friedman alongside minority stakeholders, HUB reached a $29 billion valuation and moved toward a renewed initial public offering (IPO). Today, it ranks among the largest insurance brokerages globally.

HUB International Limited is majority-owned by the private equity firm Hellman & Friedman, which acquired a controlling stake in the company in 2013.

Key Stakeholders and Owners

• Hellman & Friedman: Holds the majority and controlling interest in the brokerage.
• Minority Stakeholders: Includes private equity firms like Altas Partners and Leonard Green & Partners, alongside institutional investors such as T. Rowe Price, Alpha Wave Global, and Temasek.
• Management and Employees: Company executives and employees also hold significant equity stakes in the firm.

HUB International is a massive global insurance broker with mixed reviews, performing very well for commercial clients but struggling with personal line customer service.

📊 Company Overview

• Size: One of North America's largest insurance brokerages
• Type: Independent broker (shops multiple insurance carriers for you)
• Services: Personal, commercial, cyber, and financial risk management

✅ The Pros

• Commercial strength: Highly rated for business, cyber, and employee benefits packages.
• Wide selection: Access to a massive network of top insurance providers.
• Online convenience: Real-time quoting for home and auto in most states.

⚠️ The Cons

• Personal line complaints: Customers report slow responses and unreturned calls for personal policies.
• Inconsistent service: Quality often depends entirely on your assigned local agent or office.

HUB International is majority-owned by the private equity firm Hellman & Friedman, which acquired a controlling stake in the company for $4.4 billion in 2013.

Ownership Details

• Majority Owner: Hellman & Friedman bought the controlling interest in 2013 from previous owner Apax Partners.
• Minority Investors: Altas Partners and Leonard Green & Partners hold minority stakes.
• Recent Investments: A $1.6 billion minority investment round in May 2025 included T. Rowe Price, Alpha Wave Global, and Temasek, valuing the firm at $29 billion.

The big three insurance brokers globally, ranked by total revenue, are Marsh McLennan, Aon, and Arthur J. Gallagher & Co.

• Marsh McLennan: The world's largest insurance broker, based in New York, USA. It generates over $25 billion in revenue. It specializes in risk, strategy, and human capital.
• Aon: The second-largest global insurance broker, headquartered in London, UK. It brings in more than $15 billion in revenue. It focuses on risk management and reinsurance.
• Arthur J. Gallagher & Co.: The third-largest global insurance broker, based in Rolling Meadows, Illinois, USA. It reports over $11 billion in revenue. It provides global brokerage, consulting, and risk placement services.