(MENAFN- PR Newswire)
Acquisition
will
Strengthen
Hub's
Commercial
and
Personal
Capabilities in the Borderplex Region CHICAGO and EL PASO, Texas, Oct. 9, 2024 /PRNewswire/ -- Hub International Limited (Hub), a leading global insurance brokerage and financial services firm, and WestStar bank (WestStar), the leading community financial institution in the Borderplex Region, jointly announced today the sale of the assets of WestStar Insurance Agency, Inc. (WestStar Insurance) by WestStar to Hub. Terms of the transaction were not disclosed.
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WestStar logo
Located in El Paso, Texas, WestStar Insurance is a wholly owned subsidiary of WestStar
Bank, the region's leading commercial bank, with branches stretching from Fabens, Texas to Las Cruces, New Mexico, and more than $3 billion in assets. The Weststar
Insurance
team, located in El Paso, focuses on business insurance, employee benefits, and personal
insurance products to customize protection for their clients. The WestStar
Insurance
team will join Hub Texas moving just a few floors up to Hub's current offices located in WestStar
Tower.
"We are excited about partnering with Hub International. This transaction will ensure that WestStar Bank's customers continue to have access to world-class insurance products and services.
In
addition,
WestStar Insurance's employees will have a great new home where they can continue to serve the Bank's customers and provide new products and services," said L. Frederick Francis, Executive Chairman of WestStar Bank.
"We are pleased to welcome the WestStar Insurance team and to expand
our existing presence in West Texas," said Don Margo, Area President of Hub International of West Texas. "We have known the WestStar Insurance team for many years and are certain that they will be a terrific addition to our client coverage, service and insurance expertise."
Piper Sandler & Co. served as financial advisor to WestStar Insurance for the transaction.
About
Hub's
M&A Activities
Hub International Limited is committed to growing organically and through acquisitions to expand its geographic footprint and strengthen industry and product expertise.
For more information on the Hub M&A experience, visit WeAreHub .
About Hub International
Headquartered in Chicago, Illinois, Hub International Limited is a leading full-service global insurance broker and financial services firm providing risk management, insurance, employee benefits, retirement and wealth management products and services. With more than 18,000 employees in offices located throughout North America, Hub's vast network of specialists brings clarity to a changing world with tailored solutions and unrelenting advocacy, so clients are ready for tomorrow. For more information, visit Hub Media Center .
About
WestStar
WestStar is a locally owned community bank with a robust presence in the Borderplex region, boasting more than $3 billion in assets. The bank offers a wide range of financial services to businesses
and
retail consumers,
including
banking, treasury
management,
wealth management, and
title
services. WestStar
is
deeply integrated
into
the
community,
with
team
members serving on
over
60
boards
and
committees
of
non-profit
and
civic
organizations,
actively
participating
in various community betterment efforts and philanthropic causes. For more information, visit weststarbank.
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