Insurance agency World Insurance Associates has expanded its property and casualty (P&C) business with the acquisition of Thorson Insurance Services of Agoura Hills.
Thorson is engaged in providing comprehensive property and casualty insurance and risk management solutions for large corporations, high-net-worth families, and successful middle market businesses.
It also provides solutions to complex, sophisticated commercial clients with concentrations in the medical malpractice space, entertainment and limo services.
Thorson Insurance Services president Miles Thorson said: “Insurance at its core is an empathetic business. We earn the trust of our clients by being there during times of crisis.
“Our reputation for developing thoughtful and high-quality insurance solutions is the result of generations of family members and associates focused on helping clients feel confident about protecting their assets.”
Financial terms of the deal were undisclosed.
World Insurance Associates CEO and co-founder Rich Eknoian said: “They are a successful business, and their values align well with World’s values. I know they will continue to do well as a part of World.”
For World Insurance Associates, legal counsel was provided by legal services firm Giordano, Halleran & Ciesla. Dentons US provided legal counsel on the transaction for Thorson.
World Insurance Associates is a full-service insurance organization. It is engaged in providing products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions.
Since its launch in 2011, World Insurance Associates closed more than 160 acquisitions. It has more than 250 offices across the US.