Tinton Falls-based World Insurance Associates recently announced it acquired two Virginia-based insurance companies — Steve Love Insurance Agency of Virginia Beach and Mid Atlantic Insurance Agency of Richmond. Terms of the transactions, which closed Dec. 31, were not disclosed.
Steve Love Insurance Agency provides personal insurance, including car, home and life, as well as business insurance, while Mid Atlantic Insurance Group is a commercial wholesaler that specializes in workers’ compensation. Steve Love is the leader of both agencies.
“We have a down-to-earth, personal approach to service and offer individual solutions to our clients,” Love said. “Our team is focused, and we work hard to earn the privilege of providing for our clients’ needs. We are happy to continue to do so as part of WIA.”
“I’m happy to welcome Steve Love to the World family,” said Rich Eknoian, co-founder and CEO of WIA. “Their motto is ‘Dedicated to Excellence,’ and I know, as part of WIA, they will continue to deliver excellent service to all their clients.”
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Grant Thorton advised it on the transaction. Hirschler Fleischer provided legal counsel to Steve Love and Mid Atlantic. No other advisers, diligence firms or legal counsel were disclosed.
Since its founding in 2012, World has completed 140 acquisitions and serves its customers from more than 160 offices in the U.S.
