Totten Insurance Group acquires CULE Insurance

Totten Insurance Group Inc. (Totten), one of Hub International Limited (Hub)’s wholesale insurance brokerage operations, has acquired the assets of CULE Insurance (CULE), effective Jan. 31, 2011.  Terms of the acquisition were not disclosed.  The CULE operations will become part of Totten’s Toronto office. Ken Rayner, president of CULE, will be joining the senior leadership team of Totten, reporting to H. Ross Totten, president and CEO of Totten Insurance Group.CULE (Canadian Underwriters for Licensed Establishments) is an insurance brokerage wholesaler located in Toronto, Ontario that works with more than 100 brokers in Ontario, Manitoba and Atlantic Canada.  Formed two years ago, with a specific expertise in hospitality and hard-to-place property accounts, they have grown rapidly in their specialty niches. In a press release announcing the deal, Hub said CULE’s “commitment to serving retail brokers within the entertainment, hospitality and surplus lines property industries will now be expanded to offer the full range of products offered by Totten, including professional liability, environmental, specialty personal lines, protective services and larger limits in both property and casualty.”We are very excited about this expansion of our hospitality business and welcome Ken Rayner to our management team,” said H. Ross Totten. “This acquisition will enable Totten Group to further solidify its position as the pre-eminent writer of this class of business across Canada. “CULE has built outstanding relationships with many brokers and we look forward to building on these relationships to expand our capabilities across the country.”