ISELIN, NJ - World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Shield Insurance Services, LLC (“Shield”) of Freehold, NJ on June 1, 2023. Terms of the transaction were not disclosed.
Shield provides commercial insurance to the transportation sector, with a particular focus in the moving and storage industry.
“We are excited to join World,“ says Jose Caraballo, President, Shield Insurance Services. “They have a great reputation in the industry, and we look forward to increasing our business, as part of World.”
“I’d like to welcome Shield to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They will be a nice addition to our transportation business, and I look forward to watching them grow and succeed.”
Giordano, Halleran & Ciesla provided legal counsel to World on the transaction. The Law Offices of Robert F. Ranalli, LLC provided legal counsel to Shield 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 195 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.
Media Contact:
Jean Wiskowski, Chief Marketing Officer
World Insurance Associates LLC
732-380-0900 Ext. 736
jeanwiskowski@worldinsurance.com
Mergers & Acquisitions Contact:
Bradley Unger, Senior Vice President, Business Development
World Insurance Associates LLC
732-712-2230 Ext. 186
bradleyunger@worldinsurance.com
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