Global insurance brokerage firm Hub International Limited recently announced its acquisition of Wade Associates, an insurance brokerage with a presence in the Wilmington area.

Wade Associates’ industry-specific expertise in construction, manufacturing, healthcare/life sciences and technology complements and strengthens Hub’s existing capabilities, according to a news release. Headquartered in Chicago, Hub has more than 18,000 employees at offices throughout North America.

“Adding Wade Associates to Hub underscores our strategic focus of continuing to grow in the region with specialists who have a deep understanding of insurance and risk management,” Tim Smith, president of Hub Carolinas, stated in the release. “Together, we will continue to expand our capabilities and deliver exceptional results for our clients.”

Wade Associates is led by President Cheryl Nabell, and the Wilmington office employs seven, according to the company’s website. In addition to Wilmington, Wade Associates has offices in Davidson, Raleigh and New Bern. The brokerage offers a range of business, personal and specialty insurance.

“Joining Hub with its expansive breadth and depth of resources and expertise is an exceptional opportunity that positions us to better serve our clients,” Nabell stated in the release.

Following the acquisition, the brokerage will be referred to as Wade Associates LLC, a Hub International company. Terms of the acquisition were not disclosed. Reagan Consulting represented Wade Associates in the transaction, according to the release.