Saskatchewan-based farm insurance company Global Ag Risk Solutions has been acquired by global insurance brokerage and financial services firm Hub International.
Hub announced the acquisition on November 5.
Based in Moose Jaw, Global Ag Risk Solutions (or GARS) offers innovative whole-farm, private insurance products to help farmers manage production costs and protect crop profit margins. GARS’ subsidiary Parametrics Ag has also introduced new weather-focused insurance products, including insurance for heat blast in canola.
Going forward, GARS will be referred to as “Global Ag Risk Solutions, a Hub International company.”
Hub says GARS CEO David Sullivan and director of strategic projects Damon Johnson, along with the GARS team, will join Hub Prairies.
“We look forward to starting our journey with Hub,” says Sullivan. “Hub’s reputation in the market and the depth and breadth of expertise and resources will provide a strong foundation for delivering outstanding service to our clients and for our continued growth.”
Based in Chicago, Hub International Limited employs more than 18 thousand people across North America, offering risk management, insurance, employee benefit, retirement, and wealth management products and services.
Financial terms of the deal were not disclosed.
