Hub International Ltd. is making yet another acquisition and buying the assets of Marrs Maddocks & Associates Insurance Services Inc.
Marrs provides property and casualty, personal lines and employee benefits insurance in the San Diego area. The company will be part of Hub's California operations.
Hub, headquartered in Chicago, has made a string of acquisitions recently. Earlier in October, the company picked up the assets of Kuykendall Gardner, a Florida insurer. Before that, in September, the company picked up software company Algentis LLC. Also in September, Hub bought Peterson Milaney Insurance Associates Inc., a California insurer.
Other insurance companies have also been acquisitive. Confie Seguros, which is backed by Boston private equity firm Abry Partners, has been picking up other insurers for years. In October, the group bought three insurers in New York and Washington.
For more on the trend, see Racking Up Regional Insurers.