Longtime Fort Worth insurance, investment group acquired by Hub International

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Hub International Limited, a leading global insurance brokerage, announced July 6 it has acquired the assets of GBC Benefits, Ltd., d/b/a Gus Bates Insurance & Investments. Terms of the transaction were not disclosed.

Located in Fort Worth, Gus Bates I&I provides a range of services, including retirement plan services, employee benefits, property & casualty and personal lines insurance.

“We’re excited to welcome the Gus Bates I&I team to Hub,” said Martin Yung, president of Hub Texas. “With their joining, we will enhance our services to clients by providing them added guidance and resources to help them navigate both the insurance and retirement worlds.”

Gus Bates, CEO of Gus Bates I&I, and Matt Morris, president of Gus Bates I&I, will join Hub Texas and report to Yung. 

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“We look forward to joining Hub Texas and are so excited for the opportunity this brings not only for our customers, but for our employees. It is a match made in heaven,” said Bates. “This is a tremendous opportunity to expand our business, drive continued growth and bring additional tools, resources and expertise to our clients.”

The Hub International Texas presence is the successor firm to the Wm. Rigg Group, which was founded in Fort Worth in 1895 and sold to Hub in 2007.  Hub is now one of the largest insurance brokerages in Texas for property and casualty, employee benefits, personal insurance, and consulting services.