Iselin, NJ, July 19, 2023 (GLOBE NEWSWIRE) — World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Young Insurance Agency Group, Inc. (“Young Insurance”) of Portsmouth, VA on July 1, 2023. Terms of the transaction were not disclosed.
Since 1973, Young Insurance has been providing clients with insurance solutions for their personal and business needs.
“At Young Insurance, we protect what’s important to our customers, providing them with the right insurance at the right price,” says William “Bill” Young, President, Young Insurance Agency Group. “As part of World, we can offer our customers even more products and services, while continuing our mission to be the one stop shop for their insurance needs.”
“On behalf of the World family I’d like to give a warm welcome to Young Insurance,” says Rich Eknoian, CEO and Co-Founder of World. “Young is a group of qualified insurance professionals, and I Iook forward to their continued success as part of World.”
Giordano, Halleran & Ciesla provided legal counsel to World on the transaction. Connell Foley LLP provided legal counsel to Young Insurance 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 and financial services and human capital management solutions. Since its founding in 2011, World has completed over 195 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and ranked #20 on the Top 50 Personal Lines Agencies by Insurance Journal. For more information, please visit www.worldinsurance.com.
Media Contact:
Jean Wiskowski, Chief Marketing Officer
World Insurance Associates LLC
732-380-0900 Ext. 736
jeanwiskowski@worldinsurance.com
Mergers & Acquisitions Contact:
Bradley Unger, Senior Vice President, Business Development
World Insurance Associates LLC
732-712-2230 Ext. 186
bradleyunger@worldinsurance.com
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.