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You are here: Home / Insurance News | Massachusetts / Insurance Agencies | Mergers & Acquisitions / World Welcomes Worcester’s Thomas J. Woods Insurance Agency

World Welcomes Worcester’s Thomas J. Woods Insurance Agency

April 25, 2023 by Owen Gallagher

This is the national agency’s fifth acquisition in New England so far this year

World Insurance Associates LLC (“World”), has acquired another Massachusetts agency. The New Jersey-based agency announced that it has purchased Thomas J. Woods Insurance Agency, Inc. (“TJ Woods”) of Worcester, MA. The deal was effective as of March 1, 2023, with no further terms of the transaction disclosed.

“I’d like to welcome TJ Woods to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They are very well regarded and their commitment to their customers has earned them industry accolades. I look forward to their continued success as part of World.” 

TJ Woods was founded in 1949, operating as a full-service property and casualty agency, providing both personal and business insurance.  

“At TJ Woods, we truly care about our customers,” says Jack Woods, CPCU, President, Thomas J. Woods Insurance Agency. “Our customers always come first, and we want to help them make the best decisions regarding their insurance needs. We look forward to offering additional products and services to them now that we are part of World.”

Giordano, Halleran & Ciesla provided legal counsel and Optis Partners advised World on the transaction. Ross Law Offices provided legal counsel to TJ Woods. No other advisors, diligence firms or legal counsel were disclosed.

Other Massachusetts agencies acquired by World Insurance

White W in a multicolored circle on a darl blue background — The logo of 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

  • World Picks Up Another Two Agencies In New England
  • 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

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