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TINTON FALLS, NJ, June 6, 2017- World Insurance Associates LLC, a fast-growing independent insurance agency headquartered in Tinton Falls, NJ, acquired Wm. G. Palermo, Inc. of Linden, NJ on April 1, 2017.

Wm. G. Palermo, Inc. is a third generation family owned insurance agency that was established on March 1, 1944, by William G. Palermo. Currently, the firm services the needs of its clients’ personal and business insurance concerns in the states of New Jersey and Pennsylvania. Wm. G. Palermo, Inc. helps clients manage and plan for all potential risks by assessing their needs and offering a variety of insurance products to choose from.

Rich Eknoian, co-founder of World Insurance Associates LLC, stated, “Mike Fostik and his team are committed to a high standard of excellence in building trusted relationships with their clients. They are a welcome addition to our growing organization.”

 “We look forward to joining the team at World Insurance Associates and continuing to provide exceptional value to our clients.” said Michael Fostik, Jr., President of Wm. G. Palermo, Inc.

World Insurance Associates LLC is an independent insurance agency headquartered in Tinton Falls, NJ. It offers extensive, cost-effective personal and business insurance solutions in 46 states. The company specializes in group benefits and insurance for transportation companies, the hospitality industry, coastal properties, and high net worth individuals in addition to general commercial clients in diverse industries. World Insurance Associates began business in 2012 and now serves more than 18,000 customers from 11 offices in NJ, PA, and NY. It has completed 22 acquisitions, has current run rate revenue over $18 million, and places more than $130 million per year in annual premiums. The company is ranked #25 on the list of New Jersey’s 2016 50 Fastest Growing Companies.

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If you would like more information about this topic, please contact Rich Eknoian at 732-523-2106 or email


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