Hub International Completes Acquisition of Personal Lines Brokerage from Chubb

Hub International Limited (NYSE:HBG)(TSX:HBG) today announcedcompletion of the previously announced purchase of Personal LinesInsurance Brokerage, Inc. (PLI) from The Chubb Corporation. Theacquisition expands Hub's leadership position in personal insuranceacross most of the United States and grows personal lines to nearly 20percent of Hub's consolidated revenue. The focussed initiative will beknown as Hub International Personal Insurance and will be promoted asa specialty practice, both on a stand-alone basis and to supplementother Hub products and services. A strategic advertising and brandinginitiative, focusing on the highly affluent audience, will begin thismonth.

"We welcome a very talented team of employees and an attractivebase of clients to Hub with this acquisition," said Martin P. Hughes,chairman and chief executive officer of Hub International. "As weintegrate PLI operations within our regional hubs, we anticipate morechoices for clients, new growth opportunities and significantoperating efficiencies." Hughes noted that Hub and PLI offices shareoverlapping operations in regions where PLI currently derivesapproximately 53 percent of its revenue, leading to consolidation andother cost-saving opportunities.

In 2004 PLI generated approximately $27 million in revenue, whileHub's personal lines revenue totalled $25 million in the United Statesand $70 million on a consolidated basis, including Canada.

Hub named PLI leaders Jim Kane and Kathleen Zortman to thepositions of president and chief operating officer, respectively, forHub International Personal Insurance in the United States. Theirleadership roles will include working with all personal insurancespecialists at Hub's regional offices. Kane will join Hub's ExecutiveCommittee.

In conjunction with the acquisition, Hub is establishing aperformance and retention incentive program for PLI employees. Underthe program, PLI employees who remain with Hub for five years willreceive an aggregate of approximately 134,000 restricted share units,each convertible into one Hub common share on the fifth anniversarydate of the acquisition, subject to the attainment of certain revenueand profitability goals.

Headquartered in Chicago, IL, Hub International Limited is aleading North American insurance brokerage that provides a broad arrayof property and casualty, life and health, employee benefits,investment and risk management products and services through officeslocated in the United States and Canada.

PLI serves high net worth individuals with personal insurancebrokerage, offering coverage options from more than 100 insurancecarriers. PLI's staff is currently based in 18 offices and is licensedto handle insurance in all fifty states. Founded in 1982, the companyserves approximately 44,000 clients.

This press release may contain forward-looking statements thatreflect our current views with respect to future events and financialperformance. These forward-looking statements relate, among otherthings, to our plans and objectives for future operations and aresubject to uncertainties and other factors that could cause actualresults to differ materially from such statements. These uncertaintiesand other factors include, but are not limited to, risks associatedwith implementing our business strategies, identifying andconsummating acquisitions, integrating acquired brokerages, attaininggreater market share, developing and implementing effectiveinformation technology systems, recruiting and retaining qualifiedemployees, fluctuations in the premiums charged by insurance companieswith corresponding fluctuations in our premium-based revenue, any lossof services of key executives, industry consolidation, increasedcompetition in the industry, fluctuations in the demand for insuranceproducts, exchange rates, resolution of regulatory issues, includingthose related to compensation arrangements with insurance companies,the actual costs of resolution of contingent liabilities and thepassage of new legislation subjecting our business to regulation injurisdictions where we operate. We caution readers not to place unduereliance on these forward-looking statements, which speak only as ofthe date of this press release. Additional information regarding theserisks and other factors that could cause Hub International's actualresults to differ materially from our expectations is contained in thecompany's filings with the Securities and Exchange Commission and theCanadian securities commissions. Except as otherwise required byfederal securities laws, Hub International undertakes no obligation topublicly update or revise any forward-looking statements, whether as aresult of new information, future events or otherwise.