ISELIN, N.J. — World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of First International Insurance (“FI Insurance”) -a division of First International Bank & Trust of Watford City, ND- on October 1, 2024. Terms of the transaction were not disclosed.
FI Insurance has over 100 years of history and specializes in contractors, contractor bonds, trucking, oil and gas manufacturing, hospitality, farm, agriculture, crop and hail. Today they have twelve locations across North Dakota, Minnesota, and Arizona.
“At First International Insurance, we take pride in getting to know our clients personally, so we can find them the coverage that best protects them from loss,” says Andy Hendrickson, Director of Insurance, First International Insurance. “It’s great to join World, and we look forward to providing our clients with the same level of exceptional customer service with additional products and services.”
“On behalf of World, I would like to extend a warm welcome to FI Insurance,” says Rich Eknoian, CEO and Co-Founder of World. “This acquisition expands World’s presence to North Dakota. I know FI Insurance will continue to be successful as part of World.”
Giordano, Halleran & Ciesla provided legal counsel and Alvarez & Marsal advised World on the transaction. Potomac Law Group, PLLC provided legal counsel and MarshBerry advised FI Insurance on the transaction. No other advisors, diligence firms, or legal counsel were disclosed.
Source: World Insurance Associates LLC
AgencyEquity statement on this article:
Some of the statements in this third party article may be forward-looking statements and perhaps even inaccurate statements. AgencyEquity or Strategic Agencies LLC does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated status of such statements. Therefore, in no case whatsoever will AgencyEquity or Strategic Agencies LLC be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
