Chicago-based Hub International Ltd. has acquired the assets of Carlsbad’s Johnson & Wood Insurance Services Inc. for undisclosed terms, Hub announced on Oct. 5.

Founded in 1956, Johnson & Wood reported 19 local, full-time employees in 2014, up from 17 in 2013. It reported $3 million in 2013 revenue and $22 million in premium volume.

The business ranked 18th on the Property/Casualty Insurance Agencies list in the 2015 Book of Lists.

Johnson & Wood is a multi-line agency providing commercial and personal insurance services, as well as employee benefit products.

Ed Johnson, president of Johnson & Wood, as well as Stuart Wood, vice president, will join Hub California and report to Travis McElvany, executive vice president of Hub California.