TINTON FALLS, NJ, August 28, 2020- World Insurance Associates LLC (WIA), a Top 100 Insurance Agency, announced today that it acquired Maximum Benefit Insurance Agency, Inc. of Saddle Brook, New Jersey on August 1, 2020. Terms of the transaction were not disclosed.
Founded in 1994, Maximum Benefit Insurance Agency, Inc. is a property and casualty full-service agency committed to providing its clients with the most affordable rates for the best policy coverages. The company specializes in providing personal auto, homeowners, and personal package, among others.
Rich Eknoian, CEO and Co-Founder of WIA, stated, “We are thrilled to welcome Maximum Benefit to the WIA team. Maximum Benefit’s entrenched customer relationships in the New Jersey area will complement our already strong presence in the region.”
“Partnering with World Insurance Associates will provide us with more resources to better serve our customers,” said Mark Alleman, President of Maximum Benefit Insurance Agency, Inc. “We are looking forward to a successful partnership.”
Giordano, Halleran & Ciesla provided legal counsel to WIA. Maximum Benefit was advised on the transaction by Helfer & Associates LLC, of Englewood, NJ.
No other advisors, diligence firms, or legal counsel were disclosed.
World Insurance Associates LLC is headquartered in Tinton Falls, NJ, and is a nationally ranked, full-service insurance brokerage providing world-class asset and lifestyle protection with insurance, risk management, and benefit consulting services for individuals and businesses. Since its founding in 2012, WIA has completed 71 acquisitions and serves its customers from 53 offices in 13 states and Washington, D.C. WIA has been named one of The Most Successful Companies in America by Inc. 5000, is a Top 100 P/C Agency by Insurance Journal and Business Insurance, a five-time honoree by NJBIZ Fast 50, and a two-time Business Insurance Best Place to Work.