Hub International Limited (Hub), a leading global insurance brokerage and financial services provider, has announced the acquisition of Woods Insurance Services, Inc., an independent agency based in Farmington, New Mexico. The financial details of the transaction remain undisclosed.
Woods Insurance Services brings significant expertise in commercial and personal insurance, as well as employee benefits solutions, with a particular focus on the oil and gas industry. This strategic acquisition aligns with Hub’s goal of strengthening its specialty practices and enhancing its capabilities in the region.
As part of the acquisition, Lyle Love, the owner and president of Woods Insurance Services, along with his team, will join Hub Southwest. Love expressed enthusiasm about the partnership, stating, “Hub is renowned for its client-first mindset and culture of collaboration. We look forward to expanding our resources and services to meet the growing needs of our clients.”
Woods Insurance Services will continue to operate under its current name, with the added designation as a Hub International company.
MidCap Financial served as a financial advisor for Woods Insurance Services in the transaction.
This acquisition underscores Hub’s commitment to growth through strategic acquisitions and organic expansion. The company has recently completed a series of significant transactions, including the December acquisitions of Jackson Hole Insurance and the assets of Fairfield County Bank Insurance.
Headquartered in Chicago, Illinois, Hub International Limited provides a wide range of services, including risk management, insurance, employee benefits, retirement planning, and wealth management. With a workforce of over 18,000 employees across North America, Hub continues to solidify its position as a leader in the industry.