World Insurance Associates expands New York State presence with acquisition of Gerard P. Smith Insurance Agency

Iselin-based World Insurance Associates on Friday said it acquired the Gerard P. Smith Insurance Agency, based in Webster, New York. Terms of the transaction were not disclosed.

Founded in 1966, the agency has always been committed to providing clients with the very highest level of service. It has established itself as one of the largest independent insurance agencies in the region.

A third-generation family run firm the business believes in having a vested interest in the community and to serving its residents for a long time.

“We were born here, we work here, and we live here,” Ian Smith, president and CEO, Gerard P. Smith stated. “We have a vested interest in this community and look forward to serving its residents for a long, long time as part of World Insurance.”

Also raised in Webster was World board member Tom Ealy, who has known the Smith family, from patriarch on down, for most of his life. “The Gerard P. Smith Agency’s deep community ties and strong, third-generation leadership is the epitome of what World seeks in a merger partner,” says Ealy.

“On behalf of the World family, I’d like to extend a warm welcome to the Gerard P. Smith Insurance Agency,” Rich Eknoian, CEO and co-founder of WIA stated. “They have always put a high value on providing their clients with personalized service. They can now offer their clients even more products and services.”

Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence advised them on the transaction. Merzbach & Solomon, P.C. provided legal counsel to Gerard P. Smith. No other advisors, diligence firms or legal counsel were disclosed.