Iselin-based World Insurance Associates LLC, a Top 50 insurance brokerage, announced on Tuesday that it acquired the business of American Trust Insurance LLC of Huron, South Dakota on Dec. 1.
Terms of the private transaction were not disclosed.
ATI was founded in 2004, and currently has eight offices within South Dakota. It provides personal and commercial insurance, health and life insurance, and specializes in crop/agricultural/farm insurance.
“It’s great to join World Insurance,” Preston Steele, principal, American Trust Insurance, said. “We look forward to offering our clients additional products and services to meet their insurance needs.”
“We are very excited about our new partnership with World Insurance,” Katie Scheuer, leader, American Trust Insurance, said. “Our team remains the same, our visions and values line up and we now have more resources available to better serve our clients. We are looking forward to the future.”
“I would like to welcome ATI to the World family,” Rich Eknoian, co-founder and CEO of World, said. “With ATI joining World, we are significantly adding to our rapidly growing business in South Dakota.”
Giordano, Halleran & Ciesla provided legal counsel and Reagan Consulting advised World on the transaction. Baird Holm LLP provided legal counsel and Sica Fletcher advised ATI on the transaction.
