HUB International to acquire the Benefits Consulting Practice of Morneau Shepell for $70m.

HUB International, a global insurance brokerage, agreed to acquire the Benefits Consulting Practice of Morneau Shepell, a provider of integrated HR solutions, for $70m. "After a comprehensive review, we made the decision to divest our benefits consulting practice. We are very focused on our growth strategy, which includes being clear market leaders in the businesses in which we operate, owning the total well-being space, accelerating growth through geographic expansion and leveraging technology to deliver a seamless experience for our clients and their employees. The benefits consulting business is a strong, profitable asset and a great fit for Hub. Hub is focused on the benefits consulting space, which makes it a perfect home for this business. The benefits consulting business is core for them, and in their hands has more potential upside and opportunity to grow," Stephen Liptrap, Morneau Shepell President and CEO.