Hub International announced July 10 that it has acquired Independent Financial Concepts Group Ltd. (IFCG), a managing general agency (MGA) based in Toronto.

IFCG was founded in 1999 by President and CEO Gary Mandel and Executive Vice President Jaymie Bongard. Terms of the acquisition were not disclosed.

Expanding its broker network

"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," said Terri Botosan, President of Hub Financial.

Striving to be at the leading edge

"At IFCG, we continually strive to be at the leading edge of the insurance market for our advisors and clients,” stated Mandel. “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."

On July 9, Hub International also announced the acquisition of two employee benefits focused brokerages. Read more here.