HUB International acquiring Morneau Shepell’s benefits consulting business

Posted Mar 2, 2020 7:11 am.

This article is more than 5 years old.

TORONTO — Insurance brokerage HUB International Ltd. has signed a deal to acquire Morneau Shepell Inc.’s benefits consulting practice.

Financial terms of the agreement were not immediately available.

Morneau Shepell chief executive Stephen Liptrap says the company made the decision to sell the business after a comprehensive review.

He says the benefits consulting business is a strong, profitable asset and a great fit for Hub.

JP Girard, Morneau Shepell’s health and benefits consulting Canadian practice leader, has joined Hub as an executive vice-president.

Chicago-based Hub is a global insurance broker that provides property and casualty insurance, health and life insurance, employee benefits, investment and risk management products and services.

This report by The Canadian Press was first published March 2, 2020.

Companies in this story: (TSX:MSI)

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