October 24, 2016

Norton + HUB: Exciting News About Our Future

We have exciting news to share! After months of looking for a partner with whom to forge a strong and healthy future, we have found the perfect match. On October 3, 2016, Norton Insurance Ÿ Financial announced that it was being acquired by HUB International Limited, a leading insurance brokerage firm headquartered in Chicago with 300+ locations throughout North America.

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Don’t worry, we’re not going anywhere! Norton Insurance Ÿ Financial headquarters will remain in Maine, and we’ll continue to service Northern New England businesses from our Cumberland, Winthrop and Brunswick, Maine locations as well as our Portsmouth, NH office. All of our 67 employees will retain their positions. The Norton leadership team will continue to run the business and all of our clients will receive the same service and expertise to which they have grown accustomed.

Over the years, we have developed many solid business relationships with insurance carriers, investment managers, underwriters, and administrators who are an important extension of our organization. Importantly, we will be maintaining these relationships, including the relationship with our broker dealer, Commonwealth Financial Network. Our new partnership with HUB will give us access to broader set of resources to help improve the services we already provide.

We know you may be asking why, so we want to share with you the reasoning behind our decision. Over the past several years, we have seen considerable evolution in the insurance marketplace with significant upheavals in healthcare and numerous acquisitions of smaller local agencies by regional competitors. In our quest to remain a thriving, sustainable business with committed, local employees offering unsurpassed insurance and employee benefits, we explored a variety of options. After lengthy discussion, we concluded that the best path forward was to identify an exceptional partner who would strengthen our standing and ensure a bright future for our clients, our employees and the communities in which we operate.

From the beginning it was clear that HUB was that perfect partner because they could bring the resources we sought and because they also valued our clients and our team the same way we do. Additionally, they were looking for an established insurance agency and brokerage firm to help guide their entry into the Maine and New Hampshire markets, and knew our diverse set of services and skilled team could help them do that.

This new partnership offers the following advantages:

  1. Increased access to additional insurance carriers and specialty markets bringing more choices and better value to clients.

 

  1. With more options comes opportunities for better value for clients and opportunities to enhance your existing coverage for the same premium.

 

  1. Incredible sub-specialty teams within HUB that work with our agents to optimize our insurance offerings.

 

  1. Inclusive of Norton’s local offices, HUB has structured its organization around large regional offices with over 300 satellite locations to serve you.

 

  1. Formed in 1998, HUB is ranked among the 10 top insurance brokerages worldwide is now one of the largest insurance brokers worldwide. Insurance Journal’s Top 100 ranks HUB #1 in its list of 100 privately held Property/Casualty Agencies and for the second year in a row HUB has been recognized as one of the healthiest workplaces in America.

This new partnership allows us to remain a strong local competitor in Maine and New Hampshire and deliver to our clients a stronger slate of products, services and institutional expertise, because of what HUB now brings to the table.

On behalf of Norton Insurance Ÿ Financial, we want to thank our employees for their past and future dedication to our company. To our clients, we want to thank you for helping us become a trusted provider, and one of the most respected companies in northern New England. We value your continued support and are eager to bring you continued exceptional service that will result from our union with HUB International Limited.

If you have any questions, we’d love to chat. Give us a call or drop us a line here.

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