Business Moves

Hub International Ltd., Rubino Enterprises Inc., Leitao Insurance Agency

Hub International Ltd., a global insurance brokerage, has acquired the assets from Rubino Enterprises Inc., formerly known as TYG Insurance Agency Inc.

Based in Arlington, Mass., TYG Insurance provides commercial and personal insurance. The TYG Insurance business will join Hub New England following the acquisition. Maurice Rubino, principal of TYG Insurance, will report to Charles Brophy, CEO of Hub New England.

In a separate transaction, Hub acquired the assets of Leitao Insurance Agency Inc.

Located in Ludlow, Mass., Leitao is a multiline insurance brokerage firm providing personal and commercial lines products.

Terms of both acquisitions were not disclosed.

Headquartered in Chicago, Hub provides property and casualty, life and health, employee benefits, investment and risk management products and services from offices located throughout North America.

Alera Group, Benefit Planning Services, IMG Benefits Group

Alera Group, a national employee benefits, property and casualty, risk management and wealth management firm, has acquired Benefit Planning Services (BPS), located in Norwalk, Conn.

BPS has focused on providing benefits solutions since 1980. It offers a variety of services from group health insurance to executive benefits packages.

In a separate transaction, Alera Group announced it also acquired IMG Benefits Group LLC in Houston.

IMG Benefits Group creates tailored employee benefit programs. The firm has been built on five pillars: helping clients stay informed, providing client support, assisting in the implementation process, serving as an advocate and being a strategic benefits resource.

Terms of both transactions were not announced.

Based in Deerfield, Ill., Alera Group has continued to grow organically and through acquisitions since its formation in December 2016.

White Mountains, NSM

Bermuda-based insurance holding company White Mountains Insurance Group is acquiring a majority equity stake in NSM Insurance Group, a specialty insurance program administrator.

The transaction values NSM at approximately $388 million, according to the announcement. White Mountains said it intends to fund the acquisition through a combination of cash and new debt issued by NSM.

Pennsylvania-based NSM places in excess of...