World Insurance Associates LLC, a Tinton Falls-based insurance agency, announced on Friday it acquired Saddle Brook-based Maximum Benefit Insurance Agency Inc. on Aug. 1.
Founded in 1994, MBIA is a property and casualty agency specializing in personal auto, homeowners, and personal package, among others.
“We are thrilled to welcome Maximum Benefit to the WIA team. Maximum Benefit’s entrenched customer relationships in the New Jersey area will complement our already strong presence in the region,” Rich Eknoian, co-founder and CEO, WIA, said.
“Partnering with World Insurance Associates will provide us with more resources to better serve our customers,” Mark Alleman, president of MBIA, said. “We are looking forward to a successful partnership.”
Giordano, Halleran & Ciesla acted as legal counsel for WIA. Maximum Benefit was advised by Helfer & Associates LLC. Financial terms were not disclosed.
