World Insurance Associates

Year of Investment:

2020

Strategy

Flagship

Industry

Financial Services

Headquarters

Tinton Falls, NJ

Status

Active

Website

https://www.worldinsurance.com

Business

Founded in 2012, World Insurance Associates offers comprehensive insurance coverage, risk management strategies, and benefits consulting services for businesses and individuals. Focused on property and casualty lines, the company has built centers of excellence in specialized industries such as transportation, self-storage facilities, non-profits and construction. World operates 40 offices in 12 states and has become one of the country’s fastest-growing insurance brokerages through a combination of organic growth and agency acquisitions, with 55 completed at the time of acquisition.

Charlesbank Investment

Charlesbank invested in World in April 2020, becoming the company’s first private equity sponsor. The additional capital will enable World to optimize its operations and accelerate its geographic expansion program, especially through continued acquisitions of independent agencies. After the transaction, the World management team and employee shareholders remain major shareholders alongside Charlesbank.

CEO

Rich Eknoian