World Insurance Associates Expands Footprint with Acquisition of Business Contractors Insurance Services

World Insurance Associates Welcomes Business Contractors Insurance Services



In a significant move to enhance its presence in California, World Insurance Associates LLC (World), a leading name in the insurance sector, recently acquired the firm Business Contractors Insurance Services (BCIS). This acquisition, completed on September 1, 2024, marks another milestone in World’s rapid expansion journey.

Background of BCIS


Founded over 15 years ago, BCIS has made its mark by delivering a comprehensive range of insurance solutions tailored to both individuals and businesses. The company prides itself on its commitment to exceptional client service and the aspiration to foster long-lasting relationships with its clientele. As Josh Schwartz and Chad Galvas, founders of BCIS, noted, their purpose was clear from the outset: to build an agency that prioritizes customer service and creates a familial environment for its employees and insurance producers.

The Acquisition Details


While the specific financial terms of the acquisition were not disclosed, this merger is set to enhance World’s already considerable footprint in the insurance industry. CEO and Co-Founder of World, Rich Eknoian, expressed his enthusiasm about welcoming BCIS into the World family, stating that the businesses share a common dedication to providing quality service.

The acquisition not only strengthens World’s offerings but also allows it to utilize BCIS’s experienced team that is committed to meeting client needs. This strategic move is expected to create valuable synergy between the two organizations, further enhancing client service and operational efficiency.

Expert Guidance and Legal Counsel


The acquisition process was supported by distinguished legal teams. Giordano, Halleran & Ciesla served as legal counsel to World, while Fennemore provided legal support for BCIS. Their expertise ensured a seamless transition, allowing both companies to focus on delivering continued value to their clients.

Strengthening the Insurance Landscape


World Insurance Associates has established itself as a formidable player in the insurance brokerage landscape. With its headquarters in Iselin, New Jersey, the company boasts a national presence with over 250 offices across the United States. Since its inception in 2011, World has successfully completed more than 250 acquisitions, showcasing its aggressive growth strategy and commitment to serving clients across personal and commercial insurance sectors.

As of its latest rankings, World holds impressive positions in the industry: it's listed #28 among the 100 Largest Brokers of U.S. Business by Business Insurance and ranks #3 for the Fastest Growing Benefits Brokers according to the same source. Such accolades reflect World’s dedication to innovation and excellence in the insurance brokerage realm.

Looking Ahead


As World Insurance Associates integrates BCIS into its operations, it promises to uphold the values and mission that both firms share — primarily focusing on customer-centric services. This acquisition not only solidifies World’s status in the insurance industry but also highlights the ongoing trend of consolidation within the sector. Stakeholders, employees, and clients alike can expect enhanced service delivery and a broader range of insurance products following this strategic acquisition.

For individuals and businesses in need of quality insurance solutions, the merging of these two entities is a particularly promising development in the California market. As the insurance landscape continues to evolve, World Insurance Associates is at the forefront, ready to meet the challenges and opportunities that lie ahead.

Topics Financial Services & Investing)

【About Using Articles】

You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.

【About Links】

Links are free to use.