METAIRIE, La. – HUB International Limited (HUB), a leading global insurance brokerage, announced the succession plan for its Gulf South region in a press release. Steven Terry, who has served as president of the firm since 2002, will be moving into an advisory role effective January 2019. He will retire at the end of the second quarter of 2019. Shaun Norris, who currently serves as the region’s chief sales officer, will assume the role of president.
In 2007, Terry successfully transitioned the once bank-owned firm from Hibernia/Capital One to HUB International. At that time, the agency posted revenues of $18mm. Today, the region has grown to over $100mm in commission and fee income. As one the industry’s most acquisitive brokerages, HUB Gulf South has acquired $75mm in the five state footprint that Terry currently oversees, including Strategic Employee Benefit Services in 2011, Louisiana’s largest life and health insurance brokerage.
Norris, who joined the agency in 2004, oversees a 70-plus agent production force and all new business initiatives for the firm. During the transition, Norris will maintain his sales leadership role specifically within Louisiana. Norris earned his bachelor’s and master’s degrees at the EJ Ourso College of Business at LSU, where he also served as adjunct professor in the department of marketing. A native of New Iberia, he has 22 years of agency management experience.
“While it’s cliché to say that the insurance marketplace is experiencing rapid change, at no other time can I recall the opportunity that independent agents and brokers now have to shape the future for their clients," said Norris. "In health and employee benefits, the emerging trend is cost containment and claims mitigation."
"In the Property & Casualty space the next horizon is enhanced risk control driven by data analytics. And lastly, technology will continue to dominate how tomorrow’s consumer accesses personal insurance," he continued. "In all three arenas, I’m excited about HUB’s position today and into the foreseeable future. Our internal stakeholders work daily to ensure that future is led by HUB.”
