Hub Worldwide Restricted has introduced that it has acquired CAPAX Administration and Insurance coverage Companies. Phrases of the transaction weren’t disclosed.
CAPAX, based mostly in Modesto, CA, is likely one of the largest regionally owned insurance coverage brokerage and worker advantages consulting organizations in central California. The corporate supplies multi-line insurance coverage merchandise, together with private and industrial, worker advantages merchandise, and danger administration. CAPAX’s experience in captive options and its deal with industries like agribusiness strengthens Hub’s present capabilities.
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“CAPAX is a good addition to the Hub household as we proceed our progress technique within the area by including specialised capabilities that can develop the depth of our insurance coverage and danger administration options,” stated Michael Der Manouel, govt vp of Hub California Central Valley.
Joel Geddes III, president of CAPAX, will be part of Hub California and can report back to Der Manouel.
“We sit up for becoming a member of Hub – a number one brokerage agency with robust values and an utmost dedication to shoppers,” Geddes stated. “With Hub, we will likely be well-positioned to offer a full suite of companies to suit our shoppers’ rising wants.”