Hub snaps up California agency

Global brokerage Hub International Limited has announced that it has acquired California-based Foster & Parker Insurance Agency. Terms of the transaction were not disclosed.

Foster & Parker Insurance is a full-service agency with locations in Madera, Oakhurst, and Rancho Cordova, Calif. It specializes in home, auto, business, farm, and life and health insurance products. Steve Barsotti, president of Foster & Parker Insurance, and his staff will join Hub California.

“Working with Hub will allow us to provide significantly more markets, services and resources to our clients,” Barsotti said.

The acquisition is the latest in Hub’s ongoing M&A spree. Last week, the company announced its acquisition of insurtech company In-Fi. Last month, it acquired Rhode Island-based RIMS Insurance Corporation.

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