On the same day it acquired a New York-based firm, June 1, World Insurance Associates LLC also added Allan M. Walker Insurance Agency of Taunton, Mass., to its fast-growing portfolio. Terms of the latter deal, which was announced July 15, were not disclosed.
Founded in 1847, the Walker agency provides commercial and personal insurance, as well as bonds. The staff will continue to serve its clientele as part of the Iselin-based WIA organization.
“Today we are grounded in our roots, but we are looking forward to the future,” Michael Quinn, president of the Walker agency, said in a statement.
Like several other firms WIA has acquired, Quinn said the move gives his firm the option to offer even more products and services to its clients.
Rich Eknoian, CEO and co-founder of WIA, commended Allan M. Walker on the personalized service it provides to its clients.
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Sica Fletcher advised the firm on the transaction. Connell Foley provided legal counsel to the Walker agency, and The Manhattan Group advised it on the transaction. No other advisors, diligence firms or legal counsel were disclosed.
This acquisition is WIA’s 153rd since its founding in 2011. WIA, which has more than 250 offices across the U.S., is ranked No. 34 on the 100 Largest Brokers of U.S. Business list and No. 2 on the Fastest Growing Brokers list, both by Business Insurance.
World Insurance Associates also recently acquired:
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.