Hub International Acquires C&L Marine Insurance

News Summary

Hub International Limited has announced the acquisition of C&L Marine Insurance, a family-owned business based in Boca Raton, enhancing its footprint in South Florida’s marine insurance market. This acquisition will integrate C&L’s specialized knowledge into Hub Florida, promising improved services and resources for clients. With a deeper talent pool and expertise now available, this strategic move is set to benefit both organizations and their clientele significantly.

Exciting News from Boca Raton: Hub International Expands with C&L Marine Insurance Acquisition

In a move that’s creating quite a splash in the South Florida, Hub International Limited, a leading insurance brokerage and financial services juggernaut based out of Chicago, has announced that it has acquired the assets of Scott Costolo Inc., which operates as C&L Marine Insurance. This strategic acquisition aligns perfectly with Hub’s ongoing efforts to expand its presence in the vibrant South Florida market.

What Does This Mean for C&L Marine Insurance?

For those who may not be familiar, C&L Marine Insurance has been a beloved family-owned business since its inception in—wait for it—1991! Located in sunny Boca Raton, this company has made a name for itself by specializing in marine insurance, particularly in providing services for yachts, mega yachts, boat builders, dealers, marinas, and marine contractors. Now, with the new integration into Hub Florida, C&L Marine Insurance is set to benefit greatly from the resources and expertise that come with being part of a larger company.

The Team Behind the Transition

Scott Costolo, known for his leadership at C&L Marine Insurance over the years, will be making the transition alongside his dedicated team. They will join the ranks of Hub Florida, which operates several offices across key locations in South Florida including Coral Gables, Fort Lauderdale, Jupiter, and Miami. This addition promises to enrich the Florida division immensely, providing enhanced value for its clients.

Growth and Expertise: A Winning Combo

As Hub Florida looks to grow in the marine insurance sector, the deep knowledge of the C&L Marine Insurance team is seen as a golden asset. The acquisition is anticipated to bolster Hub International’s capacity to cater to its clients in marine-related services while allowing them to tap into the extensive resources and networks Hub has to offer. Hub International, which is not new to the world of acquisitions, has been active in pursuing additional insurance brokerages and financial firms in Florida, thus ensuring they keep climbing the ladder of success.

About Hub International

For a little background, Hub International launched in 1998 and has since grown into a formidable player in the North American insurance landscape with a workforce of around 19,000 employees. Their range of services is nothing short of impressive, including risk management, employee benefits, retirement services, and, naturally, insurance and wealth management. With this acquisition, they plan to weave in even more expertise to better serve their growing clientele.

What’s Next?

While the specific financial terms of the acquisition haven’t been disclosed, the implications for both companies are clear. This partnership is poised to enhance not only the specialized offerings in marine insurance but also solidify Hub’s commitment to growing its presence in Florida’s lush markets.

As the local community and businesses watch with excitement, it’s safe to say that this acquisition is a milestone not just for Hub International and C&L Marine Insurance, but for the entire South Florida region. With more resources and specialized expertise now available, clients can look forward to even better services and innovative solutions that meet their insurance needs.

In Summary

So there you have it, folks! Hub International’s acquisition of C&L Marine Insurance marks a significant chapter in the South Florida insurance saga. As this partnership unfolds, it will surely create ripples of opportunity and growth for clients and the industry as a whole. Stay tuned for more updates as this exciting journey continues!

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