Chicago-based Hub International Limited announced this morning that it had acquired Truss, one of the Kansas City region’s largest private insurance brokerages. Terms of the transaction were not disclosed.
Truss, formerly known as Cretcher Heartland/The Power Group before a 2015 rebrand, has more than 40 years of commercial insurance expertise in the construction, transportation and health-care industries, as well as expertise in employee benefits, risk management, surety bonds, and HR solutions. In a news release announcing the acquisition, Hub said the deal brings experience in key industries and supports its specialty practices.
“We’re excited to partner with the Truss team,” said Stuart DeSelms, President of Hub Mid-America. “They have an entrepreneurial attitude and a fresh perspective, and their capabilities will help expand our services in the Mid-America region.” Paul Cohen, vice president of Truss, has been named area President for Kansas City, reporting to DeSelms. Chandler Cullor, who most recently has served as president at Truss, will remain with the firm, moving into a new role as executive vice president.
“We are honored to join Hub, one of the most successful insurance brokerage firms in the country,” said Cohen. “This partnership brings immediate value to our current clients and presents exciting opportunities for future growth in Kansas City.”
Hub International Limited has more than 11,000 employees in offices throughout North America.