World Insurance Associates grows employee benefits business with the acquisition of Sagacity Benefits

Iselin-based World Insurance Associates LLC on Tuesday said it acquired Sagacity Benefits of Burlington, Iowa, on July 1.

Terms of the transaction were not disclosed.

Sagacity Benefits is a comprehensive consultant firm for employer-based benefits and specializes in health benefits platforms for companies of all sizes. Specialty markets include fully insured, partial self-funded and self-funded platforms.

“It’s our goal to provide consultation while identifying ways to save our clients both time and money,” Steven Preader, president, Sagacity Benefits, stated. “This is done with market knowledge and a wide selection of resources in cost savings, human resources, payroll and technology. We are glad to be joining World and continuing this approach with even more benefits and services.”

“It’s great to have Sagacity Benefits join the World family, and I extend a warm welcome to them,” Rich Eknoian, co-founder and CEO of WIA, stated. “They are recognized as industry leaders, and I know they will continue to be successful as part of World.”

Giordano, Halleran & Ciesla provided legal counsel to WIA, and Aspelmeier, Fisch, Power, Engberg & Helling PLC provided legal counsel to Sagacity Benefits. No other advisers, diligence firms or legal counsel were disclosed.

Since its founding in 2012, World has completed 152 acquisitions and serves its customers from more than 160 offices in the U.S.