Top 50 insurance brokerage firm, World Insurance Associates, has announced its acquisition of another New England independent agency. On December 1, 2023, the firm welcomed the Foy Insurance Group (“Foy”) of Exeter, New Hampshire. No further terms of the transaction were disclosed.
Started over a century ago, Foy Insurance has been doing business in New Hampshire for over 100 years.
The agency provides insurance products to individuals and businesses, as well as special programs including equine insurance and sports insurance. Today, the family-owned agency has grown to become one of New England’s largest insurance agencies, with offices in three states, including Massachusetts, and over $70 million in premium.
“We are pleased to join World Insurance,” says Mike Foy, President, Foy Insurance Group. “Like Foy, World is dedicated to their customers, providing them with the best coverage at a fair price. As part of World, we now have access to even more products and services that will meet our customers’ insurance needs.”
“On behalf of the World family, I would like to extend a warm welcome to Foy,” says Rich Eknoian, CEO and Co-Founder of World. “As Foy has grown over the years, they have maintained their commitment to service, and caring for their clients’ insurance needs. They are an experienced group of professionals and I know they will continue to do well as part of World.”
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
- Wm F. Borhek & B. R. Alexander Agencies Join World Insurance Associates
- 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
