World Insurance Associates buys S.C. company and its insurance, HR, benefits units

World Insurance Associates has acquired a South Carolina-based company and its subsidiaries in the insurance, human resources and benefits fields, it announced recently.

The Tinton Falls-based insurance brokerage acquired Strovis Holdings LLC, based in Georgetown, and its subsidiaries: Strovis Insurance LLC, Strovis Payroll & HR Inc. and Strovis Benefits LLC.

Financial terms were not disclosed.

“Partnering with Strovis allows World to not only strengthen our core (property & casualty) and employee benefits offerings in the South Carolina region, but also expand our offerings by adding a payroll and HR technology and services component,” co-founder and CEO Rich Eknoian said in a prepared statement. “Providing this new technology product and service offering to our customers will result in a more well-rounded employee benefits offering.”

Giordano, Halleran & Ciesla served as WIA’s legal counsel, while Connell Foley served as Strovis’ legal counsel.