Latest news with #WorldInsurance
Associated Press
23-06-2025
- Business
- Associated Press
World Insurance Associates Further Expands Presence in Louisiana
ISELIN, N.J., June 23, 2025 /PRNewswire/ -- World Insurance Associates LLC ('World'), a Top 50 Insurance Brokerage, announced today that it acquired the business of five entities with locations across Louisiana on March 1, 2025. The agencies are Insurance Unlimited of Louisiana, LLC ('IU'), Erwin Insurance Agency, Inc. ('Erwin'), Burke & Burke Insurance Marketing Inc. ('Burke & Burke'), Courtney Insurance Services, Inc. ('Courtney'), and US Principal Insurance ('USPI') Terms of the transaction were not disclosed. The entities provide comprehensive property and casualty and employee benefit insurance products to businesses across numerous industries, as well as to individuals. 'I would like to warmly welcome all the agencies to the World family,' says Rich Eknoian, CEO and Founder of World. 'With this transaction, World further increases its presence in the Louisiana market. In addition, these agencies bring experienced and tenured employees to our team. I look forward to their continued success.' Giordano, Halleran & Ciesla provided legal counsel and Alvarez & Marsal advised World on the transaction. Greenberg Traurig, LLP provided legal counsel, and MidCap Advisors advised the entities on the transaction. No other advisors, diligence firms, or legal counsel were disclosed. About World Insurance Associates LLC World Insurance Associates (World) is a nationally ranked financial services organization headquartered in Iselin, N.J., that serves its clients from more than 300 offices across the U.S. and U.K. World's comprehensive network of brokers and specialists empower people to make informed decisions to improve their risk management outcomes, modernize their benefits programs, and help achieve their long-term financial goals. Using data-driven analytics, World's advisors innovate new products and solutions tailored to clients' needs across commercial and personal insurance and bonds, employee and executive benefits, wealth management and retirement plan services, private client services, and payroll & HR solutions. For more information, please visit View original content to download multimedia: SOURCE WORLD INSURANCE ASSOCIATES LLC
Associated Press
06-05-2025
- Business
- Associated Press
Insurance Agency Mergers and Acquisitions Wane in First Quarter
Deals for insurance firms in US and Canada dip 15%, OPTIS Partners reports MINNEAPOLIS, MN / ACCESS Newswire / May 6, 2025 / There were 141 announced insurance agency mergers and acquisitions in the first quarter of 2025, down 15% from 166 in the same period in 2024, according to OPTIS Partners' M&A database. This marks the slowest quarter since the second quarter of 2020. Nine consecutive quarters have fallen below the long-term trend line. 'We think the pace will ultimately pick up this year because of the large number of active buyers in the market, although current economic uncertainties may cause a bit of a delay,' said Steve Germundson, a partner at OPTIS Partners, an investment banking and financial consulting firm specializing in the insurance industry . Some 139 deals were for US agencies while Canadian brokers accounted for six transactions. BroadStreet and World Insurance lead buyers BroadStreet Partners led all buyers in Q1 with 18 deals, followed by World Insurance Associates with 10, and King Risk partners with seven deals. While Arthur J. Gallagher did ink fewer deals than in the past, it did make two big acquisitions: AssuredPartners (pending approval) and Woodruff-Sawyer. Private-equity buyers dominate OPTIS Partners tracks buyers by four groups: private equity-backed/hybrid brokers, privately held brokers, publicly held brokers, and all others. The private equity-backed/hybrid group of buyers continued to dominate deal activity in the first quarter, accounting for 73% of all transactions. This pace-setting group includes just 26 firms. Privately held brokers completed 25 acquisitions while publicly held brokers reported 13 deals. P&C Agencies were main sellers Sellers are placed in four categories: property/casualty agencies, employee benefits agencies, combination P&C/benefits agencies, and all others. The latter includes third-party administrators and related managing general agent operations, and agencies solely focused on life insurance, investment or financial management, consulting, and other businesses connected to insurance distribution. P&C sellers accounted for 96 transactions (68% of the total). Benefits agencies sales totaled 11 (10%), and there were 14 sales of P&C/benefits agencies (8%). All other sellers accounted for 20 deals (14%). 2025 should bring more mega-deals Several private equity-backed firms are getting ready to put themselves on the market or recapitalize, according to OPTIS managing partner Timothy J. Cunningham. 'We also expect more large privately owned agencies will be sold this year,' he added. 'The sale of San Francisco-based Woodruff-Sawyer, with $268 million in estimated revenues, points to further mega-deals this year.' The full report can be read at . About OPTIS Partners Focused exclusively on the insurance-distribution marketplace, Chicago-based OPTIS Partners ( ) offers merger & acquisition representation for buyers and sellers, including due-diligence reviews. It provides appraisals of fair market value; financial performance review, including trend analysis and internal controls; and ownership transition and perpetuation planning. Contact: Steve Germundson, OPTIS Partners, [email protected] 612-758-0598 Tim Cunningham, OPTIS Partners, [email protected] , 312-543-5425 Dan Menzer, OPTIS Partners, [email protected] , 630-520-0490 Henry Stimpson, Stimpson Communications, [email protected] SOURCE: OPTIS Partners press release
