The Chicago-based insurance brokerage Hub International has purchased New Dimensions Underwriters.
On September 6, HUB announced that it had acquired New Dimensions, a managing general agent (MGA) in Edmonton, Alberta. The terms of the deal were not disclosed.
The MGA was founded in 1948 by Edward Davis, who according to the firm's web site was the first advisor to sell term life insurance coverage in the province. When Edward Davis retired in 1979, the agency passed first to Garry Davis and then to Russell Davis in 1990 when it became New Dimensions Underwriters Ltd. The firm is also licensed to offer mutual funds, providing its services through iA Investia.
In a brief statement released following the purchase, HUB said that Russell Davis will join the company and be part of its management team. He has a bachelor's degree in economics, and has been in the industry for more than 35 years.