Bafumi Insurance Joins World Insurance Associates

Announced this month, the acquisition closed earlier this year

World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Bafumi Insurance Agency (“Bafumi”) of Middletown, CT on August 1, 2025. Terms of the transaction were not disclosed.

Bafumi provides property and casualty insurance and life and health insurance and services throughout the state of Connecticut.

“Our goal is to educate our clients on the best options for their insurance needs,” says Guido Bafumi, President, Bafumi Insurance. “We are dedicated to providing the best coverage at competitive rates. As part of World, we have access to additional products and services to meet the needs of our customers. We are excited to join the World team.”

“On behalf of the World family, I’d like to welcome Bafumi,” says Rich Eknoian, CEO and Co-Founder of World. “Bafumi brings an experienced team to World, and I know they will continue to grow and be successful.”

Giordano, Halleran & Ciesla provided legal counsel and Sica Fletcher advised World on the transaction. Andros, Floyd & Miller, P.C. provided legal counsel and Philo Smith Securities LLC advised Bafumi on the transaction. No other advisors, diligence firms, or legal counsel were disclosed.

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 200 agency 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 #28 on the 100 Largest Brokers of U.S. Business list by Business Insurance, #3 on the Fastest Growing Benefits Brokers list by Business Insurance, #15 on the Top 100 P&C Agencies by Insurance Journal, and #19 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: