World Insurance Associates (WIA) has purchased Corporate Risk Services and Midwest Risk Management Services (collectively ‘Corporate Risk Services’) of Rogers, Arkansas, further bolstering its portfolio.

The financial terms of the transaction were not divulged.

As an independent insurance brokerage firm, Corporate Risk Services provides all aspects of commercial insurance as well as worker’s compensation.

They specialise in various verticals including manufacturing, healthcare, schools, municipalities, retail, and transportation.

WIA CEO and co-founder Rich Eknoian said: “We are pleased to have Corporate Risk Services join the World family.

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“Corporate Risk Services has vast experience meeting their clients’ insurance needs, and we know they will continue to be successful as part of WIA.”

Corporate Risk Services president Pete Proffer said: “Our mission has been to provide solutions for our clients’ unique needs in the commercial insurance arena.

“A broker’s understanding of the client’s individual needs and knowledge of the marketplace is beneficial in obtaining the broadest coverage at the best price.

“We pride ourselves in long-term relationships in the insurance industry to better serve our clients and look forward to continuing this approach as part of the WIA organisation.”

Headquartered in Tinton Falls, New Jersey, World Insurance Associates is a full-service insurance brokerage firm offering risk management, insurance, and benefit consulting services.

Since its founding in 2012, WIA has completed 97 acquisitions.

Earlier this month, WIA snapped up North Carolina-based LCL Insurance.