Chicago-based global insurance brokerage Hub International in November 2017 announced that it has acquired the assets of the Burlington, Vermont-based Summit Financial Corporation and Summit Financial Insurance Agency.

Summit’s leadership team and staff will continue to operate out of Summit’s existing offices and will report to Charles Brophy, President and CEO, Regional President, Hub International US East.

Summit, founded by Joe Bonasera and Brian Babcock, is one of New England’s premier employee benefits, retirement and financial consulting firms, serving more than 350 local and national organizations.

Terms of the acquisition were not disclosed.