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July 24, 2020

World Insurance Associates acquires Professional Insurance Consulting

By Verdict Staff

American full-service insurance brokerage World Insurance Associates (WIA) has acquired Professional Insurance Consulting (PICI) for an unknown sum.

The acquisition allows WIA to expand its presence to South Carolina.

The acquired company is an independent property-casualty insurance agency founded by Diane Woods in 2005. It specialises in pizza shops, non-profit organisations, and the automatic sprinkler industry.

World Insurance Associates CEO and co-founderRich Eknoian said: “We are excited to expand our presence in South Carolina. Professional Insurance Consulting is an excellent addition to the World team.”

Professional Insurance Consulting president Diane Woods said: “We are happy to be part of something bigger. World brings national reach, extensive resources, and new opportunities to grow and provide value.”

As part of the acquisition, Giordano, Haleran and Cieslaoffered legal counsel to WIA.

Penwell Bowman + Curran provided legal counsel for PICI while Policastro& Associates advised the company on the transaction.

Earlier this year, WIAacquired Texas-based TAB Insurance Agency and New Jersey-based Lewis-Chester Associates.

WIA recently expanded its footprint in New England with the acquisition of Mazzotta Insurance Agency.

Since its founding in 2012, the company has completed 64 acquisitions, expanding its presence into13 US states.

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