HUB International Limited (HUB), a leading global insurance brokerage and financial services firm, announced today that it has acquired Global Ag Risk Solutions Corp. and Global Ag Weather Solutions Corp. known as Parametric Ag (collectively, Global Ag Risk Solutions). Terms of the transaction were not disclosed.
Headquartered in Moose Jaw, Saskatchewan, Canada, Global Ag Risk Solutions provides industry-leading whole-farm insurance solutions, including parametric solutions and weather modeling technology, to help clients protect the cost of crops and their profit. Their focus on the agribusiness and farm industry supports HUB’s Specialty practices by complementing and strengthening its existing capabilities.
“We are excited to welcome the Global Ag Risk Solutions team to HUB,” said Ryan Matthews, President of HUB Prairies. “They will elevate our expertise and offerings in the region, providing clients with the support they look for as they go into each farming season.”
Dave Sullivan, Executive Vice-President of Global Ag Risk Solutions, and Damon Johnson, Executive Vice-President, along with the Global Ag Risk Solutions team, will join HUB Prairies. Sullivan will report to Greg Johnson, Chief Strategy Officer for HUB Prairies.
“We look forward to starting our journey with HUB,” said Sullivan. “HUB's reputation in the market and the depth and breadth of expertise and resources will provide a strong foundation for delivering outstanding service to our clients and for our continued growth.”
Global Ag Risk Solutions will be referred to as Global Ag Risk Solutions, a HUB International company.
The acquisition follows HUB’s recent announcement of Marc Chouinard as National Canada Practice Leader for its Agribusiness Specialty. Chouinard is responsible for the development and oversight of strategy for the agribusiness, food & forestry industries.
