Hub Financial, a subsidiary of American insurance broker firm Hub International, has acquired Independent Financial Concepts Group (IFCG), a Canadian managing general agency (MGA), for an undisclosed sum.
IFCG was established by president and CEO Gary Mandel and executive vice president Jaymie Bongard in 1999. The company maintain its headquarters in Toronto.
Mandel said: “At IFCG, we continually strive to be at the leading edge of the insurance market for our advisors and clients. Joining Hub enables our brokers to receive the most current information for their clients to maintain our high standards that has built our solid reputation.”
Bongard stated: “If you are an insurance advisor looking to partner with an MGA, you can count on Hub and IFCG to deliver what we promise. And, if you are a client, know that your advisor is a professional surrounded by a dedicated team.”
Commenting on the deal, Hub Financial president Terri Botosan said: “The addition of IFCG is an exceptional opportunity for Hub to expand our broker network and enables us to continue providing financial advisors and insurance brokers seeking multi-fund insurance and risk solutions with additional world-class services and access to new markets. It’s a win for everyone.”
Hub Financial manages 15 offices across Canada and offers a number of life and health, employee benefits, property, casualty, investment and risk management products and services.