HUB International moves to buy New York's Solomon Agency Corp.
What's the deal? HUB InternationalDealroom has a profile for this one. Try Dealroom →, the Chicago-based brokerage giant, has begun acquiring New York insurance brokerage Solomon Agency Corp., according to reports first published by koreadaily.com. The two firms entered initial contract relations in early October, with terms said to have taken effect around October 1, 2026. The transaction value is undisclosed.
Who's involved? Solomon, founded in 1992, is an insurance brokerage and consulting firm licensed across 35 states, including California, Virginia, and Texas, with recent expansion into South Korea and Vietnam. HUB International runs a North American network of roughly 20,000 staff across 700 offices, serving about 2 million clients.
Why now? The deal marks HUB's third major Korean-American agency acquisition, following City Insurance in 2017 and Chunha Insurance in 2022 — both in California. Buying Solomon extends that consolidation strategy into the East Coast market.
By the numbers: HUB reported total revenues of $4.8 billion in 2024 and a valuation reaching $290 billion in 2025. The broker is preparing for an initial public offering slated for 2027.
What could go wrong? Neither firm has issued a formal statement, and it remains unclear whether Solomon's branding and regional leadership will survive integration. Industry practice typically involves a two- to three-month transition window around the official notice.
The signal: The acquisition reflects the steady absorption of independent, ethnic-owned agencies into national conglomerates. As one regional insurance agent noted, such exits are strong management milestones but reduce the presence of independent community institutions.
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