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February 22, 2021

World Insurance Associates acquires North Carolina-based LCL Insurance

World Insurance Associates (WIA) has acquired North Carolina-based LCL Insurance for undisclosed amount.

A full-service insurance brokerage firm, WIA provides asset and lifestyle protection with risk management, insurance, and benefit consulting services for individuals and businesses.

It was founded 2012, and since then, it has completed 97 acquisitions and serves its customers from 99 offices in 23 states and Washington, DC.

WIA co-founder and CEO Rich Eknoian said: “We are pleased to have LCL Insurance LLC lead us into North Carolina. We look forward to building our Charlotte presence around Stewart and his team.

“LCL has a history of providing solutions for clients with diverse insurance exposures, and we know they will continue to flourish as part of WIA.”

LCL managing partner Stewart Little said: “Traditional insurance brokers focus on quoting the “lowest price” to their clients without any concern to reducing their risk.

“Our approach is slow and methodical. We take the time to identify our clients’ specific risk exposures and to design an insurance program around those needs. We are happy to continue this approach as a part of WIA.”

Giordano, Halleran & Ciesla offered legal counsel to WIA. Johnston, Allison & Hord PA offered legal counsel to LCL.

Last month, World Insurance Associates acquired Two Rivers Insurance Company (TRIC) and True & Associates, in two separate deals.

The American insurance brokerage did not reveal the financial terms of both the acquisitions.

Two Rivers Insurance, which is based in Iowa, includes Two Rivers Insurance Services (TRIS) and Employee Benefits Systems (EBS). It has been acquired from Two Rivers Financial Group. Two Rivers Insurance offers personal and business insurance services across Eastern Iowa.

Based in New Jersey, True & Associates offers commercial and personal lines products. It specialises in catering to the construction industry with ‘cost-effective’ risk management solutions for minimising the exposure of its clients.

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