World Insurance Associates Expands Presence with Sprague Israel Giles Acquisition
World Insurance Associates LLC (often referred to as World), one of the top 50 insurance brokerages, recently announced a pivotal acquisition, adding Sprague Israel Giles Inc. (SIG) to their esteemed roster. This acquisition, finalized on August 1, 2024, marks World’s entry into the Washington state insurance market, marking a strategic expansion in the Pacific Northwest.
Founded in 1958, Sprague Israel Giles has built a reputation for providing a comprehensive suite of insurance services, including commercial property and casualty coverage, employee benefits services, and personal insurance products. Additionally, they are recognized for their unique offerings in niche markets with specialized products such as the Natural Insurance Program dedicated to Naturopaths and specialized insurance for Cannabis and CBD businesses.
Leadership at SIG includes President John Policar and Vice Presidents Rob Karl, Marnie White, Monica Cripe, and Matt Conroy, all of whom contribute significantly to the firm’s client-centric approach. According to Policar, the team is driven to provide unparalleled service to their clients, which aligns perfectly with World’s values.
Rich Eknoian, CEO and Co-Founder of World, expressed his excitement about welcoming SIG into the World family. He acknowledged SIG's stellar reputation within the Seattle area, highlighting the firm's dedication to client service and innovation, which he believes will thrive under the umbrella of World Insurance Associates. “With this acquisition, World not only enhances its client offering but also strengthens its geographic reach across the United States,” Eknoian remarked.
World Insurance Associates has continually established itself as a formidable player in the insurance brokerage sector, with an impressive record of over 200 acquisitions since its inception in 2011. Office locations exceed 250 across the United States, solidifying World’s national presence. They are ranked #28 among the largest brokers of U.S. business, showcasing their rapid growth and competitive edge.
This acquisition represents not just a growth tactic but also a merger of ideologies and work ethics between both companies. As client demands evolve, the ability to adapt and expand service offerings is crucial. SIG's integration into World is expected to harness the strengths of both firms, maximizing resources and expertise for client benefit.
Legal counsel for the acquisition was provided by Giordano, Halleran & Ciesla, while Reagan Consulting offered advisory services to World. On SIG's side, Parrett Porto managed legal affairs, and BH Burke Company advised them throughout the transaction.
In conclusion, the acquisition of Sprague Israel Giles by World Insurance Associates illustrates a significant development in the insurance brokerage landscape. It not only illustrates World’s ambition but also sets the stage for a robust future in Washington and beyond. As both companies move forward, their shared commitment to client service and expertise will be instrumental in navigating the complexities of the insurance market, providing clients with enhanced solutions tailored to their needs. Interested parties are encouraged to learn more about World Insurance Associates and their comprehensive range of services by visiting their website at www.worldinsurance.com.
Founded in 1958, Sprague Israel Giles has built a reputation for providing a comprehensive suite of insurance services, including commercial property and casualty coverage, employee benefits services, and personal insurance products. Additionally, they are recognized for their unique offerings in niche markets with specialized products such as the Natural Insurance Program dedicated to Naturopaths and specialized insurance for Cannabis and CBD businesses.
Leadership at SIG includes President John Policar and Vice Presidents Rob Karl, Marnie White, Monica Cripe, and Matt Conroy, all of whom contribute significantly to the firm’s client-centric approach. According to Policar, the team is driven to provide unparalleled service to their clients, which aligns perfectly with World’s values.
Rich Eknoian, CEO and Co-Founder of World, expressed his excitement about welcoming SIG into the World family. He acknowledged SIG's stellar reputation within the Seattle area, highlighting the firm's dedication to client service and innovation, which he believes will thrive under the umbrella of World Insurance Associates. “With this acquisition, World not only enhances its client offering but also strengthens its geographic reach across the United States,” Eknoian remarked.
World Insurance Associates has continually established itself as a formidable player in the insurance brokerage sector, with an impressive record of over 200 acquisitions since its inception in 2011. Office locations exceed 250 across the United States, solidifying World’s national presence. They are ranked #28 among the largest brokers of U.S. business, showcasing their rapid growth and competitive edge.
This acquisition represents not just a growth tactic but also a merger of ideologies and work ethics between both companies. As client demands evolve, the ability to adapt and expand service offerings is crucial. SIG's integration into World is expected to harness the strengths of both firms, maximizing resources and expertise for client benefit.
Legal counsel for the acquisition was provided by Giordano, Halleran & Ciesla, while Reagan Consulting offered advisory services to World. On SIG's side, Parrett Porto managed legal affairs, and BH Burke Company advised them throughout the transaction.
In conclusion, the acquisition of Sprague Israel Giles by World Insurance Associates illustrates a significant development in the insurance brokerage landscape. It not only illustrates World’s ambition but also sets the stage for a robust future in Washington and beyond. As both companies move forward, their shared commitment to client service and expertise will be instrumental in navigating the complexities of the insurance market, providing clients with enhanced solutions tailored to their needs. Interested parties are encouraged to learn more about World Insurance Associates and their comprehensive range of services by visiting their website at www.worldinsurance.com.
Topics Financial Services & Investing）
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