Insurance provider expands via acquisition

Sept. 6, 2002
Transportation insurance provider Hub International Limited has expanded with the purchase of C. S. Nenner, a Bordentown, NJ-based insurance agency, for an undisclosed amount consisting of cash and Hub International stock. Hub said Kaye Insurance Associates, the largest retail brokerage unit of Hub's New York subsidiary, Kaye Group, purchased the assets of Nenner, a specialist in transportation and
Transportation insurance provider Hub International Limited has expanded with the purchase of C. S. Nenner, a Bordentown, NJ-based insurance agency, for an undisclosed amount consisting of cash and Hub International stock.

Hub said Kaye Insurance Associates, the largest retail brokerage unit of Hub's New York subsidiary, Kaye Group, purchased the assets of Nenner, a specialist in transportation and warehousing coverage for trucking businesses that earned $3 million in revenues in 2001.

Kaye president & CEO Bruce Guthart said the Nenner purchase is "an example of our growth strategy to expand our market breadth with successful specialty agencies and brokerages."

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Sean reports and comments on trends affecting the many different strata of the trucking industry -- light and medium duty fleets up through over-the-road truckload, less-than-truckload, and private fleet operations Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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