Insurance Management Company (IMC) provides commercial insurance and risk management services, servicing commercial, industrial, institutional, and construction sectors.
Chet Rhoads, President of Hub Three Rivers (THR), commented on the acquisition, emphasising IMC’s reputation and experience in the region: “Their strong experienced team, reputation, and relationships will support and enhance the broad range of services we offer to clients across the region.”
John Bloomstine, President of IMC, will join Hub along with his sons and the rest of the IMC team. He said: “We are excited about this opportunity with Hub. Hub’s resources and platform will take us to the next level and significantly bolster our ability to meet our clients’ growing needs.”
Following the completion of the deal, IMC will operate as Insurance Management Company, a Hub International company. Regan Consulting facilitated the deal, representing IMC.
The news is the latest in a series of acquisitions for Hub International. In July, the firm announced the acquisition of Wade Associates, LLC’s assets for an undisclosed amount. Wade Associates, an independent insurance agency based in North Carolina, operates in Davidson, New Bern, Raleigh, and Wilmington. The company provides a broad range of insurance and risk management solutions, specialising in sectors such as construction, manufacturing, healthcare/life sciences, and technology.
In July, Hub also acquired Swanson Insurance Agency, an independent insurance agency serving Louisiana.
