Hub International announced June 11 that it has acquired Porchlight Financial of Vancouver, British Columbia.
Porchlight specializes in group retirement plan member advisory services, financial wellness programs, retirement lifestyle and income planning.
"With the addition of Porchlight Financial, Hub continues to create a robust Canadian benefits and pension solution for our clients," said Dave Terry, President and CEO of Hub International Canada West ULC. "Their expertise will deepen Hub's services to help clients create a more comprehensive benefits package in order to attract the talent they need and want."
Hub says the acquisition strengthens its strategy “to assemble best-in-class capabilities and entrepreneurial talent across Canada to develop a complete employee benefits and pension solution.” The company has acquired several employee benefits firms in the Canadian market in recent months.
"Hub is a first-class insurance brokerage firm, with a talented team of individuals equally committed to finding ways to continually improve the client experience in the employee benefits and retirement space," said Chris Forman, Managing Director of Porchlight Financial, who will join Hub. "We look forward to collaborating with Hub to provide a full suite of benefit and retirement offerings to more than 130,000 Property & Casualty customers of Hub across Canada."
Terms of the transaction were not disclosed.