Riviera Insurance Services in Santa Barbara Acquired by Global Insurance Leader Hub International
Riviera Insurance Services has been bought by Hub International Insurance Services Inc., a full service agency and one of the nation’s top 10 insurance agencies, announces Darren Caesar, Chief Commercial Lines Officer for Hub. The sale is effective Nov. 1, 2016.
Hub will benefit from the expertise and stellar reputations of Riviera’s top executives, President Christopher Hill and Executive Vice President Steven M. Woodward, along with the their dedicated and knowledgeable staff. Hill and Woodward now join a team of over 40 producers from San Luis Obispo to Westlake Village, said Hub Sales Manager Stan Darrow from Hub’s Santa Barbara office.
Riviera and its clients will benefit from the vast resources that Hub can provide as one of the top 10 insurance agencies nationwide, Caesar said. Riviera will continue to operate from its current location at 418 Chapala St. until Feb. 1, 2017, when the Riviera staff will move to Hub’s Santa Barbara office located at 40 East Alamar Ave., he said.
Hill said he and Woodward, as well as the Riviera staff, are grateful for the support of clients and friends over the past decade, since Riviera Insurance Services was founded in 2006. Hill added that he and Woodward will now have more time to work directly with their clients, and they will continue their involvement with organizations supporting the community. The Riviera staff looks forward to joining the Hub team, Hill said.
“RIS takes great pride in personally supporting our clients and being directly involved in our community. As we searched for the right buyer, we looked for one that would allow us to continue our direct connection with our clients and our community involvements,” Hill said. “After a diligent search, the choice became obvious: Hub has the capabilities of size and a business model that brings extensive resources to support our local businesses and community.”
With offices throughout the United States and Canada, Chicago-based Hub International Insurance Services Inc. is a full service agency offering homeowners, auto, property and liability business insurance as well as employee benefits and life and health. HUB International has over 400 offices and 9,000 employees across North America.
Hub was ranked No. 1 for total property/casualty agency revenue for 2015 on the 12th Annual Insurance Journal Top 100 Independent Property/Casualty Agencies report, according to Darrow. Sponsored by AFS/IBEX, a division of MetaBank, the Insurance Journal’s report listed agencies primarily with a retail business, as opposed to wholesale, and the ranking of agencies was done by information voluntarily submitted by insurance agencies. The 2015 total for Hub International’s property/casual revenue was $1,007, 636,000. The 2015 total of property/casual premiums written was $6,721,541,337. Hub’s revenue from other sources was $326,028,000 with $4,151,826,261 in other premiums written.
To contact the Santa Barbara office of Hub International Insurance Services Inc., call (805) 682-2571. For more information, visit www.hubinternational.com.