News Summary
World Insurance Associates LLC has acquired five insurance agencies in Louisiana, enhancing its operational capacity and market reach in the southern United States. This strategic acquisition aligns with the company’s growth strategy focused on integrating local agencies into its network, allowing for broader service capabilities and fortified client relationships. The transactions, finalized on March 1, signify a significant move in the evolving insurance landscape, with World Insurance Associates continuing to prioritize its expansion across the United States.
Iselin, New Jersey – World Insurance Associates LLC has expanded its presence in the southern United States by acquiring five insurance agencies based in Louisiana. The transaction, which closed on March 1, marks a significant move for the company as it aims to deepen its market penetration in key regions.
The newly acquired agencies include:
- Insurance Unlimited of Louisiana LLC
- Erwin Insurance Agency Inc.
- Burke & Burke Insurance Marketing Inc.
- Courtney Insurance Services Inc.
- US Principal Insurance
While the terms of this deal have not been disclosed, these agencies collectively provide a broad array of insurance products and services, covering both property and casualty insurance as well as employee benefits. Their client base comprises both commercial and individual customers, serving diverse sectors across Louisiana.
This acquisition enhances World Insurance Associates’ operational capacity and regional reach within Louisiana. The company continues to focus on integrating local agencies into its broader network, which aligns with its strategy of growing through mergers and acquisitions. By acquiring established agencies with strong client relationships and local market expertise, World Insurance Associates aims to broaden its service capabilities.
Rich Eknoian, the CEO and founder of World Insurance Associates, expressed optimism about the addition of new employees from the agencies and the future growth trajectory of the company. The incorporation of these agencies allows World Insurance Associates to not only broaden its product offerings but also strengthen its competitive edge in the insurance market.
World Insurance Associates is headquartered in Iselin, New Jersey, and has positioned itself as one of the Top 50 insurance brokerages in the United States. The organization provides comprehensive insurance, risk management, and employee benefits services nationwide and has actively pursued numerous acquisitions in recent years as part of its growth strategy.
The legal counsel for this acquisition was provided by Giordano, Halleran & Ciesla, while Alvarez & Marsal acted as the financial advisor to World Insurance Associates. The selling agencies were represented by Greenberg Traurig, LLP and MidCap Advisors, and there were no additional firms disclosed as part of the transaction.
World Insurance Associates continues to prioritize growth in both existing and new markets, signifying a robust commitment to expanding its footprint across the United States. This strategic move in Louisiana is just one part of a broader objective to increase market presence while facilitating seamless integration of local agencies into its growing portfolio.
As the landscape of the insurance industry evolves, World Insurance Associates remains focused on its goal of providing enhanced services and solutions for its customers, ensuring that it meets the changing needs of the marketplace effectively.
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