ISELIN, N.J. — World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Affiliated Insurance Managers (“AIM”) of Warwick, RI on April 1, 2024. Terms of the transaction were not disclosed.
AIM was founded in 1937, and today the agency is a generalist primarily focused on commercial lines, but they do provide insurance to individuals and families.
“For more than 80 years, Affiliated Insurance Managers has helped companies throughout Southern New England with competitive business insurance solutions and has guided individuals and families in choosing their personal insurance coverage,” says Sean P. Daly, CPCU, President and CEO, Affiliated Insurance Managers. “As part of World, we will have additional products and services to offer our customers, while still providing the excellent service they expect.”
“It’s a pleasure to welcome AIM to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “AIM has developed strong relationships with their clients in the Southern New England region. They provide an exceptional level of service, and this approach will align nicely with World.”
Giordano, Halleran & Ciesla provided legal counsel and Fortrust Diligence advised World on the transaction. Winget, Spadafora & Schwartzberg LLP provided legal counsel to AIM on the transaction. No other advisors, diligence firms or legal counsel were disclosed.
SOURCE World Insurance Associates
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