Another independent insurance agency has joined World Insurance Associates LLC. The top 50 Insurance Brokerage announced this month that it has acquired the business of Bearce Insurance Agency, Inc. (“Bearce Insurance”) of Brockton, MA. The deal was completed effective February 1, 2023, with no further terms of the transaction disclosed.
“I’d like to welcome Bearce Insurance to the World family,” says Rich Eknoian, CEO and Co-Founder of WIA. “Bearce Insurance is an experienced and knowledgeable team, and I know they will continue to provide their clients with the high level of service for which they are known.”
Founded in 1950 by William C. Bearce, the third-generation family-owned agency has been providing insurance products and risk management services to southern Massachusetts individuals and businesses for over 70 years.
“Our commitment to developing and implementing efficient systems and procedures has allowed us to provide a superior level of customer service,” says William C. Bearce, III, President, Bearce Insurance. “We provide the best insurance solution to our clients. As part of World, we will continue to do so, while increasing the products and services we offer.”
Other Massachusetts agencies acquired by World Insurance
Headquartered in Tinton Falls, N.J., World Insurance Associates has grown into a national agency focused on providing individuals and businesses with top products and services across personal and commercial insurance lines, employee benefits, retirement and financial services and human capital management solutions.
Since its founding in 2012, it has completed over 112 acquisitions and now serves customers from more than 131 offices in the U.S. As a result of its aggressive growth strategy, the brokerage now appears at the top of many ranking lists, ranking #2 on Business Insurance’s Fastest Growing Brokers list, #62 on Business Insurance’s 100 Largest Brokers of U.S. Business list, #31 on Insurance Journal’s Top 100 Independent P&C Agencies list, and #38 on Insurance Journal’s Top 50 Personal Lines Agencies list.
As for Massachusetts, the company has made a series of agency acquisitions over the past few years, including the following that have been previously reported on in Agency Checklists:
2022 Agency Acquisitions in Massachusetts
- World Insurance Associates Adds Another Mass. Agency To Its Ranks (Circle Insurance Agency)
- World Insurance Associates Acquires O’Brien And Gibbons Insurance Agency
- World Insurance Agency Acquisition Hat Trick: Two Massachusetts Agencies & A Rhode Island One (Tarpey and Rush-Kent Agency)
- World Insurance Associates Acquires The 174-Year-Old Allan M. Walker Insurance Agency
- World Insurance Associates Acquires Commercial Insurance Agency
- J.K. Olivieri Insurance Agency Joins World Insurance Associates
2021 Agency Acquisitions in Massachusetts
- World Insurance Associates Acquires Plainville’s Pope Insurance Agency
- World Insurance Associates Acquires Rocco Rose
- World Insurance Associates Acquires The R.S. Gilmore Insurance Agency
