ISELIN, NJ - World Insurance Associates LLC (World), a Top 50 Insurance Brokerage, announced that it acquired the business of Esten & Richard Agency, Inc. (“Esten & Richard”) of Woonsocket, RI on December 31, 2022. Terms of the transaction were not disclosed.For over 70 years Esten & Richard has been helping clients with their insurance needs. They provide all types of Business and Personal insurance programs.
“Our goal is to continue to provide our customers with the best insurance coverage and service possible in order to protect their assets and therefore to secure their financial well-being, “ advised Frank Richard, President of the Esten & Richard Agency. “Partnering with World Insurance Associates will further strengthen our ability to do so.”
“On behalf of World, I’d like to welcome Esten & Richard to the family,” says Rich Eknoian, CEO and Co-Founder of WIA. “They have a strong commitment to quality service, and I know they will be a great addition to our team.”
Giordano, Halleran & Ciesla provided legal counsel to World, and ForTrust Diligence advised them on the transaction. Parrett Porto Parese & Colwell provided legal counsel to Esten & Richard and B.H. Burke 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 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 185 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.