World Insurance Associates acquires CDR Insurance of Connecticut

Iselin-based World Insurance Associates LLC recently said it acquired CDR Insurance Group of Waterbury, Connecticut.

Terms of the transaction were not disclosed.

CDR was founded in 1992, by Rick Rice. Today the agency provides commercial and personal insurance products and services to customers in New England, as well as New York and New Jersey.

“At CDR Insurance Group, Inc., we want to help protect the most precious things in our customers’ lives. We have always put our customers first, and it’s what sets us apart from the competition,” Owner Rick Rice, CDR Insurance Group Inc said. “We are pleased to be joining World and look forward to expanding the products and services we provide our customers.”

“We offer unparalleled customer support, so we’re always there when our customers need us the most. We provide the extra layer of protection our customers are looking for. It’s great to join World, and continue to do so,” Vin Stifano, co-owner, CDR Insurance Group stated.

“On behalf of everyone at WIA, I’d like to welcome CDR to the World family,” Rich Eknoian, CEO and Co-Founder of WIA said. “I know it will continue to be successful as part of World.”

Giordano, Halleran & Ciesla provided legal counsel to WIA, and MarshBerry advised them on the transaction. Schwell Wimpfheimer & Associates provided legal counsel to CDR, and by Helfer & Associates advised them on the transaction. No other advisors, diligence firms or legal counsel were disclosed.