Morneau Shepell chief executive Stephen Liptrap is seen in an undated file photo.Supplied
Insurance brokerage HUB International Ltd. has signed a deal to acquire Morneau Shepell Inc.’s benefits consulting practice.
Morneau Shepell says Hub paid $70 million for the business.
Chief executive Stephen Liptrap says Morneau Shepell made the decision to sell the business after a comprehensive review.
He says the benefits consulting business is a strong, profitable asset and a great fit for Hub.
JP Girard, Morneau Shepell’s health and benefits consulting Canadian practice leader, has joined Hub as an executive vice-president.
Chicago-based Hub is a global insurance broker that provides property and casualty insurance, health and life insurance, employee benefits, investment and risk management products and services.
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