World Insurance Associates’ Acquisition of Commercial
Iselin, NJ, June 22, 2022 (GLOBE NEWSWIRE) — World Insurance Associates LLC (“WIA”), a Top 100 Insurance Brokerage, announced today that it acquired Commercial Insurance Agency (“CIA”) of Belmont, MA on May 1, 2022. Terms of the transaction were not disclosed.
George W. Ruggiero, Jr. established CIA in 1975 and today he leads the company along with Betsy Pridham. Together they have focused on building strong relationships with their clients, offering outstanding customer service and cutting-edge products unique to each industry. Included in their portfolio of clients you will find a focus on the food and hospitality business with emphasis on food processing, distributing, manufacturing and restaurants.
“No matter what the conditions, our focus is the customer and what they need. We work tirelessly to protect our insureds from an insurance and financial prospective. We treat their business and money like it is our own,” says Betsy Pridham, President, CIA.
“I’m happy to welcome CIA to the World family,” says Rich Eknoian, CEO and Co-Founder of WIA. “We look forward to increasing our client base in the Boston area, as well as expanding the offering of our products and services to the food service industry.”
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence advised them on the transaction. Morrison Mahoney LLP provided legal counsel to CIA, and PKF O’Connor Davies advised them 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 full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance lines, employee benefits, retirement and financial services and human capital management solutions. Since its founding in 2012, World has completed 150 acquisitions and serves its customers from more than 160 offices in the U.S. World is ranked #2 on Business Insurance’s Fastest Growing Brokers list, #53 on Business Insurance’s 100 Largest Brokers of U.S. Business list, #31 on Insurance Journal’s Top 100 Independent P&C Agencies list, and #38 on Insurance Journal’s Top 50 Personal Lines Agencies list. For more information, please visit www.worldinsurance.com.