World Insurance Associates adds scope in Arizona; adds Stern Insurance Group to portfolio

World Insurance Associates of Iselin announced it acquired the business of Stern Insurance Group of Scottsdale, Arizona.

Terms of the private transaction were not disclosed.

Stern Insurance Group was founded in 1987 by Daryl Stern. SIG specializes in counseling corporations in the areas of employee benefits and risk management services. The firm also provides individuals with various insurance products including medical, life, and disability protection.

“Stern was built on a tradition of integrity and industry leadership,” Principal Daryl Stern said. “We have invested in the resources necessary to deliver thoughtful strategic planning and technology-based solutions in order to meet the changing needs of our clients.” Eric Stern, Principal, Stern Insurance Group, adds, “We’re not satisfied with business as usual. We want to ensure our clients’ success, and their complete satisfaction is our sole focus.”

“I would like to welcome to Stern Insurance Group to World,” Rich Eknoian, CEO and co-founder of World said. “Stern has built a strong network in the Scottsdale area, and with their expertise I know they will continue to be successful as part of World.” “We’re excited to welcome the Stern Insurance Group team into our family,” says Jennifer Barton, Head of Employee Benefits, World. “Daryl and Eric Stern have built an exceptional practice that truly reflects our values and value proposition. Their outstanding expertise further strengthens our presence in Arizona. We look forward to achieving new successes together and delivering even greater value to the clients we serve.”

Giordano, Halleran & Ciesla provided legal counsel and Reagan Consulting advised World on the transaction. Satin and Lee Law P.C. provided legal counsel and MidCap Advisors advised Stern on the transaction.