Both agencies were acquired in Q2-2023
World Insurance Associates LLC continues to widen its geographic footprint in Massachusetts with the addition of two more local, independent agencies.
On June 1, 2023, the company officially acquired the business of Wm F. Borhek Insurance Agency, Inc. of Halifax, MA. Founded in 1964, Borhek Insurance has grown to become one of the premier insurance agencies on the South Shore of Massachusetts. No further terms of the transaction were disclosed.
“I’d like to welcome Borhek to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They will increase World’s presence in Massachusetts, and I look forward to their continued success.”
“Our commitment is to provide customers with the best insurance value and service available, while maintaining the highest ethical standards and credibility,” says Scott Casagrande, Owner and Producer, Wm F. Borhek Insurance Agency. “It’s great to be joining World, a company that shares this commitment.”
Prior to the Top 50 brokerage’s acquisition of Borhek Insurance, World also announced that on May 1st, the brokerage firm acquired the business of B. R. Alexander & Company, Inc. of Boston, MA. No terms of this transaction were disclosed.
“I’d like to welcome B.R. Alexander to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They have a long history and an exceptional reputation, and I know they will continue to do well as a part of World.”
B. R. Alexander was founded in 1937. For over 80 years, the agency has provided a wide range of commercial and personal insurance in 25 states, with the majority of customers located in Massachusetts and the broader New England area. B.R. Alexander works with companies in a broad range of industries, including real estate, commercial marine, educational, financial and medical institutions, as well as non-profits.
“We are thrilled to be joining World,” says Dean H. Steeger, President, B.R. Alexander. “We look forward to providing our clients with additional products and services that meet their insurance needs.”
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
- 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
