Hub acquires life insurance MGA of Canada-based ivari

Hub International, a global insurance brokerage, has acquired the life insurance product managing general agent business (MGA business) of Canada-based ivari for an undisclosed price.

Headquartered in Toronto, ivari has a network of thousands of independent advisors in Canada which offer a range of life insurance products, that is claimed to help Canadians make the right selection for their protection needs. The brokers and business done via ivari’s company offices will join Hub Financial, a subsidiary of Hub.

ivari’s refinement of resources is said to enable it to further support independent advisors and existing partnerships, a move that will bolster their position in the marketplace as a mid-market insurance provider and provide growth opportunities in the future, said Hub International.

With offices across 15 Canadian cities, Hub Financial is among the largest distributors of life insurance and investment solutions to advisors in Canada.