Exhibit 99.4

HUB INTERNATIONAL LIMITED
Unaudited Pro Forma Consolidated Statement of Earnings (1)

		For the year ended December 31, 2002
		Hub International			Fifth Third Insurance
		Limited			Services, Inc.		Pro Forma
		(in thousands of U.S. dollars, except per share amounts)
Revenue
	Commission income	$	200,792		$	24,164	$	224,956
	Contingent commissions and volume overrides		11,464			1,606		13,070
	Other		7,704			287		7,991
			219,960			26,057		246,017
Expenses
	Compensation		118,678			15,228		133,906
	Selling, occupancy and administration		44,932			3,366		48,298
	Depreciation		5,492			229		5,721
	Interest expense		7,317			—		7,317
	Goodwill and other intangible asset amortization		1,671			42		1,713
	Gain on disposal of investment held for sale, property, equipment and other assets		(2,679	)		—		(2,679	)
	Gain on put option liability		(186	)		—		(186	)
	Non-cash stock option compensation		1,078			—		1,078
			176,303			18,865		195,168
Net earnings before income taxes			43,657			7,192		50,849
Provision for income tax expense			14,256			2,877		17,133
Net earnings		$	29,401		$	4,315	$	33,716
Interest on subordinated convertible debentures			2,520			—		2,520
Net diluted earnings		$	31,921		$	4,315	$	36,236
Earnings per share
	Basic	$	1.27		$	0.19	$	1.45
	Diluted	$	1.06		$	0.14	$	1.20
Weighted average shares outstanding — Basic (000’s)			23,181			23,181		23,181
Weighted average shares outstanding — Diluted (000’s)			30,199			30,199		30,199

(1) The amounts presented in our unaudited pro forma consolidated statement of earnings are prepared as follows: Hub International Limited amounts are in accordance with Canadian generally accepted accounting principles (Canadian GAAP); Fifth Third Insurance Services, Inc. amounts are in accordance with United States generally accepted accounting principles (U.S. GAAP). There are no material differences between Canadian GAAP and U.S. GAAP as it relates to the amounts for Fifth Third Insurance Services, Inc.