Global insurance brokerage Hub International has acquired the assets of Harris, Madden, Powell, Stallings & Brown (HMP), a commercial, surety, employee benefits and personal lines agency in Memphis, Tennessee, for an undisclosed price.
HMP said to bring a unique industry focus on construction, manufacturing, distribution, and healthcare, and also alternative risk solutions, which will strengthen and complement the existing capabilities of Hub International in specialty practices.
Cooper Jones – President of Hub Mid-South said: “We are excited to welcome HMP to Hub as we continue to build on our momentum of growth in the region.
“This major acquisition in west Tennessee is an important component of our expansion in Hub Mid-South, which includes operations in Tennessee and Kentucky. The HMP team has an incredible depth of experience and expertise. We believe the combination of our existing team in Tennessee and the HMP team will provide tremendous opportunities for our clients and for Hub.”
HMP’s leadership along with its all full-time employees will be retained at its existing offices in Memphis and Oxford in Mississippi.
Mark Harris of HMP said: “Our employees and clients are always our main focus. With Hub, we will provide more opportunities for our team, and enhanced resources and value-added services to our clients here in west Tennessee and the Mid-South region.”