Hub International Ltd. has purchased the retail health insurance brokerage division of Flexible Benefit Service Corp.[@@]
Hub, Chicago, is a large insurance brokerage.
FSBC, Rosemont, Ill., distributes a wide variety of health insurance products, including programs that incorporate personal health accounts, through retail brokers.
The retail business that FSBC sold to Hub has been providing health coverage for about 200 Illinois businesses.
Hub and FSBC are not releasing the price of the deal.
FSBC, which started out as a conventional health insurance agency in 1988, says it is selling the retail health arm because it wants to focus on its wholesale business.
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