Hub International, the Chicago-headquartered insurance brokerage and financial services firm, has confidentially filed for an Initial Public Offering (IPO). This move brings the Hellman & Friedman-backed company closer to a potential public listing, with the IPO anticipated to occur in mid-to-late 2026. The firm was recently valued at $29 billion in a $1.6 billion minority equity investment round led by T. Rowe Price, Alpha Wave Global, and Temasek.
Sources familiar with the situation indicate that the company is now IPO-ready in terms of systems and internal governance. The upcoming IPO is expected to push Hub's valuation well above $30 billion, especially when considering that public peers like Arthur J. Gallagher and Brown & Brown trade at higher EBITDA multiples. Both NYSE and Nasdaq are under consideration as potential listing venues, though no decision has been made on bank mandates yet.
Hub's CEO, Marc Cohen, confirmed that the company has been stepping up investor outreach through non-deal roadshows across major financial hubs, including New York, Boston, and Baltimore. These efforts are part of a broader strategy to familiarize institutional investors with Hub's strategy and performance ahead of a formal IPO process. The company is in the final stages of IPO readiness, encompassing Sarbanes-Oxley compliance, legal, accounting, and regulatory preparations. While specific timing remains subject to market conditions and board approval, the trajectory toward a public listing is firmly in motion.
