A local insurance group has been acquired by one of the nation’s leading global insurance brokerage and financial services firms.
Cameron Investment Co. Inc., which does business as Shepard Walton King Insurance Group, was acquired by Hub International Ltd. in a transaction that was announced Tuesday. Terms of the transaction were not disclosed.
Headquartered in McAllen, Shepard Walton King provides business and personal insurance in various industries, including agribusiness, real estate and education, which supports Hub’s specialty practices by complementing and strengthening its existing capabilities, the company stated in a news release. Raul Cabaza III, president, and the Shepard Walton King team will join Hub Texas.
“Shepard Walton King leads a highly skilled team and will add depth to our insurance solutions as clients’ needs continue to shift and grow,” said Martin Yung, president and CEO of Hub Texas.
“Hub has established an extensive network of specialists and innovative services to meet our clients’ growing needs,” added Cabaza. “We’re excited to be joining Hub, which will help us build on our successes in the market.”
Reagan Consulting served as financial advisor to Shepard Walton King in the transaction.
Headquartered in Chicago, Hub International Ltd. has more than 13,000 employees in offices located throughout North America.
