World Insurance Associates announced has acquired Commercial Insurance Agency of Belmont, Massachusetts.
Terms of the May 1, 2022 transaction were not disclosed.
George W. Ruggiero, Jr. established CIA in 1975 and today he leads the company along with Betsy Pridham. The agency’s portfolio of clients reflects a focus on the food and hospitality business with emphasis on food processing, distributing, manufacturing and restaurants.
World Insurance Associates is headquartered in Iselin, New Jersey. Since its founding in 2012, World has completed 150 acquisitions and serves its customers from more than 160 offices in the U.S. It offers personal and commercial insurance lines, employee benefits, retirement and financial services and human capital management services.
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence advised WIA on the transaction. Morrison Mahoney provided legal counsel to CIA, and PKF O’Connor Davies advised CIA on the transaction.
Topics
Mergers & Acquisitions
Commercial Lines
Business Insurance
Massachusetts
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Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.