Hub International Ltd. has acquired brokerage Der Manouel Insurance & Financial Services Inc., Hub said in a statement Tuesday.
Terms of the acquisition were not disclosed.
The Fresno, California-based Der Manouel, which also has offices in Pleasanton, California, is a multi-line insurance brokerage specializing in agriculture, transportation, nonprofits and construction markets, as well as employee benefits, the statement said. Hub International is based in Chicago.
Michael Der Manouel Jr., president and chief executive officer of Der Manouel, will join Hub California and the Hub California executive management team and will report to Kirk Christ, president, Hub California, the statement said.
The broker’s leadership team and staff will also join Hub California. Der Manouel’s website listed 27 agents and brokers as well as support staff.
“The addition of DMIG will greatly strengthen our footprint in the Central Valley,” Mr. Christ said in the statement.