Hub International Enhances Insurance Portfolio with Byrnes Agency Acquisition

Hub International Expands Insurance Reach with Byrnes Agency Acquisition

On January 9, 2025, Hub International Limited, a prominent full-service global insurance brokerage and financial services firm, announced its acquisition of the assets of Byrnes Agency, Incorporated, a well-established insurance agency located in Dayville, Norwich, Connecticut. Although specific terms of the transaction have not been disclosed, this move aims to bolster Hub’s commercial and personal insurance services in the region.

Byrnes Agency is recognized as one of the largest privately-owned insurance agencies in Eastern Connecticut, providing a comprehensive range of insurance solutions tailored for both individuals and businesses. The agency's integration into Hub International will result in the establishment of Byrnes Agency as a brand under the Hub International umbrella, allowing it to leverage Hub's extensive resources and industry expertise.

Shawn McLaughlin, President and CEO of Hub New England, expressed enthusiasm about the acquisition, stating, "The Byrnes Agency boasts a spectacular reputation in the region, and we look forward to this exciting partnership." McLaughlin highlighted that this acquisition not only places Hub in a stronger position to serve its Connecticut clients but also allows for the maintenance of a local touch, which is critical in the insurance business. He emphasized the dual advantage of providing the strength of a national broker while preserving local relationships essential for client trust and satisfaction.

Jay Byrnes, the head of Byrnes Agency, reflected on the decision to join Hub International, noting that it was crucial for their talented team to find a partner that would support their career growth and enhance service offerings for clients. Byrnes expressed confidence in Hub International as the right match, stating, "We feel strongly that we have found the right partner."

The acquisition aligns with Hub's strategy to expand its operations both organically and through mergers and acquisitions. Hub International aims to widen its geographic footprint and strengthen its expertise in various insurance products and services, thereby catering to the evolving needs of its clientele. The integration of Byrnes Agency into Hub’s operations will enable the agency to continue offering personalized services while benefiting from Hub's expansive network and resources.

Philo Smith served as the financial advisor to Byrnes Agency during this transaction, providing counsel to ensure a smooth transition into the Hub family. This acquisition is a notable milestone for both firms as they navigate the complex landscape of the insurance industry, marked by increasing competitive pressures and clients' changing needs.

As Hub International continues its growth journey, its commitment to exceptional client service and the integration of reputable firms like Byrnes Agency exemplifies its intention to redefine the insurance brokerage experience. With more than 18,000 employees and offices across North America, Hub is well-positioned to bring clarity and tailored solutions to an ever-changing market, ensuring that its clients are adequately prepared for the challenges of tomorrow.

For more detailed information on Hub International and its services, you can visit WeAreHub.com.