Terms of the private transaction were not disclosed.
IKM provides personal insurance programs for auto, home, coastal homes, seasonal and vacation homes and rental homes. IKM has years of experience serving coastal homeowners. It also provides commercial insurance.
“At IKM, we provide personal service to each of our customers,” Kevin McBride, president, IKM said. “Our commitment is to form individual relationships with our customers and provide them with insurance that meets their needs. I know as part of World we will continue to do so, while expanding the products and services we provide.”
“I’d like to extend a warm welcome to IKM,” Rich Eknoian, co-founder and CEO of World, said. “They are well known in South Jersey and the South Jersey Shore areas, and I know they will be successful as part of World.”
Giordano, Halleran & Ciesla provided legal counsel and Fortrust Diligence advised World on the transaction. Cooper Levenson provided legal counsel to IKM on the transaction.