Iselin-based World Insurance Associates LLC said it acquired the business of Volaris Insurance Group of Tampa, Florida, on Dec. 31. Terms of the transaction were not disclosed.
Volaris provides insurance to a variety of businesses and has developed specialization in the trucking and cell tower industries.
“On behalf of the entire World family, I’d like to extend a warm welcome to Volaris,” said Rich Eknoian, co-founder and CEO of WIA. “I know they will be a great addition to the World team.”
“Volaris Insurance Group has helped hundreds of small and large business owners find the best insurance available for workers’ comp, bonds, general liability and more,” Elizabeth Vargas, unit leader, Volaris Insurance Group, said. “Our experts understand our customers’ risks and work with them to determine the right insurance coverage to protect their businesses.”
Giordano, Halleran & Ciesla provided legal counsel to World. Verras Law provided legal counsel to Volaris. No other advisers were disclosed.
