ISELIN,
N.J., July 16, 2024 /PRNewswire/ -- World
Insurance Associates LLC ("World"), a Top 50 Insurance Brokerage,
announced today that it acquired the business of Affiliated
Insurance Managers ("AIM") of Warwick, RI on April 1, 2024. Terms of the transaction were not
disclosed.
AIM was founded in 1937, and today the agency is a generalist
primarily focused on commercial lines, but they do provide
insurance to individuals and families.
"For more than 80 years, Affiliated Insurance Managers has
helped companies throughout Southern New England with competitive
business insurance solutions and has guided individuals and
families in choosing their personal insurance coverage," says
Sean P. Daly, CPCU, President and
CEO, Affiliated Insurance Managers. "As part of World, we will have
additional products and services to offer our customers, while
still providing the excellent service they expect."
"It's a pleasure to welcome AIM to the World family," says
Rich Eknoian, CEO and Co-Founder of
World. "AIM has developed strong relationships with their clients
in the Southern New England region. They provide an exceptional
level of service, and this approach will align nicely with
World."
Giordano, Halleran & Ciesla provided legal counsel and
Fortrust Diligence advised World on the transaction. Winget,
Spadafora & Schwartzberg LLP provided legal counsel to AIM on
the transaction. No other advisors, diligence firms or legal
counsel were disclosed.
About World Insurance Associates LLC
World Insurance
Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked,
full-service insurance organization providing individuals and
businesses with top products and services across personal and
commercial insurance, employee and executive benefits, retirement
planning and financial planning services and human capital
management solutions. Since its founding in 2011, World has
completed more than 200 acquisitions and serves its clients from
more than 250 offices across the United
States. World is ranked #28 on the 100 Largest Brokers of
U.S. Business list by Business Insurance, ranked #3 on the Fastest
Growing Benefits Brokers list by Business Insurance, ranked #15 on
the Top 100 P&C Agencies by Insurance Journal, ranked #19 on
the Top 50 Personal Lines Agencies and ranked #19 on the Top 50
Commercial Lines Agencies by Insurance Journal. For more
information, please visit www.worldinsurance.com.
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SOURCE World Insurance Associates LLC