American full-service insurance brokerage World Insurance Associates (WIA) has acquired Peoples/Commercial Insurance Services (d/b/a Peoples Insurance Group, on the first of this month.
The deal value was not made public.
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Peoples Insurance Group president Michael Lesser said: “We are excited by the opportunity to grow alongside World and are confident that this new partnership will allow us to best cater to the needs of our customers and employees.”
Founded in 1917, Peoples Insurance Group is a locally owned independent agency that offers a range of insurance services, including personal, business, commercial, life, disability, and bonds.
WIA CEO and co-founder Rich Eknoian said: “We warmly welcome Peoples Insurance Group. We look forward to working closely together and expanding our presence in Kansas.”
Peoples Insurance Group vice-president Erin Lesser added: “After having worked this summer with the WIA team to form a partnership, we are very excited that WIA recognises the hard work and dedication from the entire Peoples Insurance Group team.
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By GlobalData“We would not be where we are today had we not had support from our amazing customers and our team. I am thrilled to say that nothing is changing, Mike and I plan to continue working at the agency and our team is staying with us.”
Giordano, Halleran&Ciesla provided legal counsel to WIA, and Smith Law Firm provided legal counsel to Peoples Insurance Group. Scali Group advised WIA on the deal.
Last month, WIA acquired Professional Insurance Consulting for an unknown sum.
Since its establishment in 2012, the company acquired 71 firms, expanding its presence into13 US states and Washington, DC.
