HUB International, a global insurance brokerage and financial services firm, is nearing the finalisation of its acquisition of Insuritas, an embedded insurance platform that serves banks and credit unions.
Once the transaction is complete, Insuritas will continue operations under VIU by HUB, HUB International’s digital insurance platform, according to a report from the Coverager.
The acquisition aims to enhance HUB International’s capabilities in providing embedded insurance solutions.
Insuritas’ unique platform aligns with HUB’s strategy to expand its digital insurance services. The financial details of the deal have not been disclosed.
HUB International, established as a leading insurance brokerage and financial services provider, launched VIU by HUB in June 2022.
The digital platform initially focused on simplifying personal insurance needs, including home and auto policies. Since then, VIU has evolved into an aggregator, broadening its offerings across property, casualty, and life insurance lines.
In 2024, HUB International has acquired at least 23 agencies, with the Insuritas deal marking its first acquisition of a non-traditional insurance agency.
Notable recent acquisitions include EINSURANCE, a Chicago-based lead-generation company acquired in June 2023, and Insureon, a digital insurance agency acquired in March 2022.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
