Two seasoned veterans of the insurance industry joined forces this month with Hub International Ltd., one of the nation’s largest insurance brokers, to expand its Los Angeles presence.

Richard Kagan, founder and chief executive of Kagan Life and Health Insurance, teamed up with Roger Kozberg, a former senior vice president at Marsh Risk & Insurance Services, to form a new firm, Kagan-Kozberg.

The firm will be a division of Hub International of California Insurance Services Inc., specializing in property, casualty, and employee benefits, as well as personal insurance coverage of fine arts, antiques, wine and luxury automobiles. “We really think Los Angeles is an underserved market,” said Roy Taylor, chief executive of Hub’s California insurance unit, which is based in Riverside.

Though Hub was formed in 1998, the company has jumped into the top 10 of insurance brokers and is expanding rapidly. Kagan and Kozberg helped build the former Johnson & Higgins, an old-line firm sold in 1997 to Marsh Inc., the world’s No. 1 insurance brokerage.

Terms of the deal were not disclosed, though Hub agreed to acquire certain assets of Kagan Life & Health, a Century City-based firm that built a reputation selling life insurance to high net worth individuals.

Both Kagan, 59, and Kozberg, 69, said they were eager to jump back into an entrepreneurial business after devoting time in the past few years to non-profits.

“Inside every old man, is a kid wondering what the hell happened,” said Kozberg, whose mother is 101 years old. “Each time that I retire, I get very bored. We’ve been thinking and talking about this for several years.”