World Insurance Associates, LLC
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World Insurance Associates, LLC - overview
Established
2011
Location
-, NJ, US
Primary Industry
Insurance
About
Based in New Jersey, US, and founded in 2011, World Insurance Associates, LLC is an insurance agency that provides asset and lifestyle protection with risk management, insurance, and benefit consulting services for individuals and businesses. Greg Kroeger, Ed Wargins, Phil Nisbet, and Rich Eknoian (CEO) are the founders of the company. In August 2023, Goldman Sachs Asset Management agreed to acquire a minority stake in World Insurance Associates LLC from Charlesbank Capital Partners for approximately USD 1 billion, as part of the recapitalization. As part of the transaction, Charlesbank Capital Partners will reinvest in the company.
The deal was completed in October 2023. The company is a full-service insurance brokerage that offers services to businesses and individual professionals from various industries. The company provides surety/bonding services like contract and construction, commercial bonds, fidelity bonds, and express bonds. It offers financial services benefits, group disability, group health, group life, PEO, and supplemental and voluntary benefits.
The company offers personalized services like high-value home, home, renters, rent guarantees, condos, cars, classic cars, flood, personal umbrella, life, financial services, Retirement Plan Consulting, Payroll & HR Services, Wealth Management, Risk Services and special events. World Insurance Associates earns revenue through retail and wholesale insurance brokerage, employee benefits consulting, and retirement and wealth advisory services, supported by acquisitions and organic growth initiatives.
Current Investors
Charlesbank Capital Partners
Primary Industry
Insurance
Sub Industries
Consulting Services, Financial Services, Personal Insurance, Life Insurance, Insurance Intermediaries, Commercial Insurance
Website
www.worldinsurance.com/
Verticals
FinTech, InsureTech
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
World Insurance Associates, LLC - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Mossbrook & Hicks Insurance Agency, Inc. | - | ||||||||
| Add-on | Completed | Jersey Coast Insurance | - | ||||||||
| Add-on | Completed | The Fidella Agency Limited Liability Company | - | ||||||||
| Add-on | Completed | SilverLeaf Insurance Group LLC | - | ||||||||
| Add-on | Completed | Bafumi Insurance Agency | - |
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