TINTON FALLS, NJ - World Insurance Associates LLC (“WIA”), a Top 100 Insurance Brokerage, announced today that it acquired Potomac Ashcraft Insurance and Financial Services (Potomac Ashcraft) of Alexandria, VA on August 1, 2021. Terms of the transaction were not disclosed.
Founded in 1985, Potomac Ashcraft is a full-service insurance agency and registered investment advisor, serving businesses and individuals in Maryland, Washington DC and Virginia. Their mission is to provide clients with the highest quality insurance services combined with the lowest available rates.
“Since our beginning, we have been focused on meeting the needs of our clients with personalized, prompt service and comprehensive insurance and financial solutions,” says Robert Reilly, Owner and President, Potomac Ashcraft. “Our ultimate goal is to create lasting relationships with our clients and as part of World we will continue to do that.”
“We are pleased to welcome Potomac Ashcraft to the World family,” says Rich Eknoian, CEO and Co-Founder of WIA. “Potomac Ashcraft is known for providing excellent service to their clients, and their name is synonymous with trust throughout the community they serve.”
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Sica Fletcher advised them on the transaction. James T. Zelloe P.C. provided legal counsel to Potomac Ashcraft. No other advisors, diligence firms or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Tinton Falls, 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 111 acquisitions and serves its customers from more than 130 offices in the U.S. World is ranked #2 on Business Insurance’s Fastest Growing Brokers list, #62 on Business Insurance’s 100 Largest Brokers of U.S. Business list, #41 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.
Media Contact:
Jean Wiskowski, Chief Marketing Officer
732-380-0900 Ext. 736
jeanwiskowski@worldinsurance.com
Mergers & Acquisitions Contact:
Bradley Unger, Senior Vice President, Business Development
732-712-2230
bradleyunger@worldinsurance.com