Hub buys Florida broker

Hub International Ltd. said Tuesday it has acquired JAG Investment Partners LLC, which does business as JAG Insurance Group LLC.

Terms of the transaction were not disclosed.

Coral Gables, Florida-headquartered JAG provides insurance, consulting services, research and risk management to the hospitality, nonprofit and real estate industries. The firm has just over 50 employees, according to its website.

Mike Chapman, president of Hub’s South Region, called the deal a “great” addition for Hub and continues the broker’s expansion in Florida.

Chicago-based Hub is the seventh-largest broker of U.S. business according to the most recent Business Insurance rankings.