• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Contact Us
  • Sponsor An Email
  • Post A Job
  • Merger & Acquisition Services

Agency Checklists

Massachusetts Insurance News & Job Opportunities

You are here: Home / Insurance News | Massachusetts / Insurance Agencies | Mergers & Acquisitions / World Picks Up Another Two Agencies in New England

World Picks Up Another Two Agencies in New England

March 6, 2023 by AC Editor


Acquires Durfee Buffinton of Fall River

Another week, another agency acquisition announcement from World Insurance Associates (WIA) it seems. This week, the New Jersey-based agency announced that it has acquired the business of Durfee Buffinton Insurance Agency, Inc. (“Durfee Buffinton”) of Fall River, MA. The transaction was effective as of December 31, 2022, with no further terms of the transaction disclosed.

A full service, family-owned and operated independent agency, Durfee Buffinton has roots that date back almost 100 years. Today, the business is run by the third-generation Brown family members, with Walter A. Brown III having taken over as president of the agency in 1986.

“Our mission has always been to provide insurance products and services to individuals and businesses that safeguard their assets from financial loss,” says Walter A. Brown, President, Durfee Buffinton Insurance Agency. “As part of World, and with the continued leadership of Christopher Brown and Doug Barresi, we will continue this mission, while offering additional products and services to our customers.”

“I’d like to welcome Durfee Buffinton to the World family, “says Rich Eknoian, CEO and Co-Founder of WIA. “They are recognized for the high level of service they provide to their customers, and I know as part of World, they will continue to do so.”  

The purchase of Durfee Buffinton marks the 11th agency acquisition for World since 2021.

World also acquires Woonsocket’s Esten & Richard Agency

In addition to Fall River’s Durfee Buffinton, World also announced this past week that it had acquired the business of the Esten & Richard Agency of Woonsocket, R.I. as of December 31, 2022. The independent agency has been a fixture in Rhode Island for over 70 years; providing both Business and Personal Insurance programs.

“Our goal is to continue to provide our customers with the best insurance coverage and service possible in order to protect their assets and therefore to secure their financial well-being, “advised Frank Richard, President of the Esten & Richard Agency. “Partnering with World Insurance Associates will further strengthen our ability to do so.” 

“On behalf of World, I’d like to welcome Esten & Richard to the family,” says Rich Eknoian, CEO and Co-Founder of WIA. “They have a strong commitment to quality service, and I know they will be a great addition to our team.”  

For both of the above transactions, Giordano, Halleran & Ciesla provided legal counsel to World, and MarshBerry advised them on the transaction. Lyon & Fitzpatrick, LLP provided legal counsel Durfee Buffinton, while B.H. Burke & Co., Inc. advised them on the transaction. No other advisors, diligence firms or legal counsel were disclosed.

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 2011, it has completed over 180 acquisitions and now serves customers from more than 250 offices in the U.S. As a result of its aggressive growth strategy, the brokerage now appears at the top of many ranking lists, including #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, #3 on the Fastest Growing Brokers list by Business Insurance, #3 on the Fastest Growing Benefits Brokers list by Business Insurance, #24 on the Top 100 P&C Agencies by Insurance Journal, and #20 on the Top 50 Personal Lines Agencies by Insurance Journal.

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 by Agency Checklists:

2023 Agency Acquisitions in Massachusetts

  • Bearce Insurance Agency Joins World Insurance Associates
  • New Bedford’s Tomlinson & O’Neil Joins World Insurance Associates

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
Print Friendly, PDF & Email

Filed Under: Insurance Agencies | Mergers & Acquisitions, Latest News Tagged With: Agency Checklists, insurance news massachusetts, Mass. Insurance News, massachusetts insurance news, New England Insurance News

Primary Sidebar

Sponsored

Sponsored

MA Division of Insurance Announcements

Latest Agency Sales

Salem Five Insurance Acquires Nichols Insurance Agency Inc.

World Picks Up Another Two Agencies in New England

More Agency Sales

Career News

Preferred Mutual Announces Three New Appointments

Benjamin Wichland Joins Optisure Risk Partners

Brooks Tingle Appointed President and CEO of John Hancock in Leadership Succession Plan

Brooks Tingle Appointed President and CEO of John Hancock in Leadership Succession Plan

Insurance Executives Among Honorees of Inaugural Insurtech Hartford’s Industry Influencer Awards

AssuredPartners Announces New Executive Leadership Appointments

AssuredPartners Announces New Executive Leadership Appointments

Risk Strategies Appoints S. Stuart Spector as Chief Operating Officer, National Employee Benefits and related Specialty Group Companies

Arbella Insurance Foundation Appoints Robin Jones as its new Executive Director

Hilb Group Announces Managing Director of Employee Benefits in Rhode Island, Massachusetts, and Connecticut

Danielle Chaplick Joins Risk Strategies Consulting as Managing Director

The Hanover Appoints Kate B. Williams to President of E&S

The Hanover Appoints Kate B. Williams to President of E&S

View More Career News

In Memoriam

In Memoriam: Pauline Stopyra, 1926-2023

In Memoriam: Nancy L. Perocchi, 1937-2022

In Memoriam: Peter J. Nobile, Jr., 1931-2022

CAR News

Tesla Insurance Exceeding Expectations

Bi-Monthly CAR Update: The MA Commercial Auto Insurance Marketplace

Bi-Monthly CAR Update: The MA Private Passenger Auto Insurance Marketplace

View More CAR News

Massachusetts Law Updates

Appeals Court Decision Reopens Door To Lawsuit Against New Bedford-Based Insurance Agency

A New Bedford-based agency may end up having to face a lawsuit it thought it might have avoided.

Understanding The Duty to Defend: Partington Builders v. Nautilus Ins.

Understanding The Duty to Defend: Partington Builders v. Nautilus Ins.

Federal Court Reaffirms Massachusetts Rule Regarding an Insurer’s Duty to Defend

Appeals Court Reins in Superior Court’s Expansion of Risk Management

Court Limits Indemnity Agreements Interpretation and Reverses $237K Legal Fee Award

Insured’s $2 Million Claim For Loss Prevention Costs Scuttled By The Supreme Judicial Court

A look at the Supreme Judicial Court of Massachusetts’ ruling on Ken’s Foods’ common law reimbursement claim.

More Mass. Law Updates

DOI News

Massachusetts Remains The 14th Largest Insurance Marketplace As Ranked By Total Premium Volume

Facts & Figures For New England Insurance Departments & Insurance Producers | 2023

Massachusetts Insurance Commissioner Honored for Exceptional Leadership

DOI: Insurance Companies Must Renew MA Appointments by October 14th

View More DOI News

Insurance Fraud

Temporary Employment Agency Owner Indicted for Tax and Insurance Fraud

Six-Day Jury Trial: Property Owner Not Guilty Of Insurance Arson

65 Months Behind Bars: Recommended Sentence For Advisor’s $1.4 Million Theft From Clients’ Annuities

Walmart Will Pay $500k For Its Failure To Follow Workers’ Comp. Prescription Pricing Procedures

More Insurance Fraud News

Footer

Agency Checklists

Contact us

14 Summer Street
Suite 102
Malden, MA 02148
617-598-3800

Advertise on Agency Checklists

We offer a variety of ways to get help promote your company or product.

Announcements
Email Sponsorships
Partnerships
Custom Collaborations

*Affiliate Disclosure

Please note that any of Agency Checklists’ articles might contain one or more affiliate links. This means that any subsequent purchase resulting from these links may result in a commission for us, but at no additional cost to you. For example, as an Amazon Associate, Agency Checklists earns a commission from all qualifying purchases. By working with affiliates we can continue to keep Agency Checklists subscription free. Thank you for your support.

SEARCH OUR SITE

Explore Our Archives

Copyright © 2023 · Agency Checklists · All rights reserved.

 

Loading Comments...