World Insurance Associates Expands Its Footprint with HML Brokerage Acquisition

In a significant move within the insurance sector, World Insurance Associates LLC, a top-ranking insurance brokerage, has announced its acquisition of HML Brokerage, LLC. This acquisition took effect on September 1, 2024, and further solidifies World Insurance's position among the industry's leaders.

HML Brokerage, based in Brooklyn, New York, brings a wealth of experience in the field of property and casualty insurance, focusing particularly on the commercial and construction sectors. The firm is known for providing tailored insurance solutions that address the unique needs of businesses in these industries. As Herman Lefkowitz, Unit Leader at HML, stated, "We provide our clients with coverage that focuses on their unique business needs, so they can focus on their business success." This personalized approach aligns seamlessly with World Insurance's broader strategy.

World Insurance Associates, headquartered in Iselin, New Jersey, boasts a comprehensive suite of services that address both personal and commercial insurance needs. Since its establishment in 2011, the organization has made over 250 acquisitions, amplifying its reach and capabilities across the United States. Currently, it operates from more than 250 offices, highlighting its robust infrastructure.

Rich Eknoian, CEO and Co-Founder of World Insurance, expressed enthusiasm for the merger, stating, "On behalf of the World family, I'd like to welcome HML. I know they will continue to be successful as part of the World team." This sentiment underscores the synergies anticipated from the integration of HML’s expertise and World’s operational support.

Legal teams from Giordano, Halleran & Ciesla assisted World in this transaction, while HML was represented by Schwell Wimpfheimer & Associates. The financial terms of the acquisition have not been disclosed, maintaining confidentiality typical in such agreements.

The landscape of the insurance industry is inherently competitive, with firms consistently seeking strategic partnerships and acquisitions to enhance their service offerings and market reach. World Insurance's acquisition of HML Brokerage is a strategic step to bolster its services and appeal to a broader clientele, particularly within the construction industry, which faces unique risk profiles that require specialized insurance coverage.

Further, the acquisition emphasizes the growing importance of comprehensive insurance solutions as businesses navigate an increasingly complex operational environment marked by regulatory changes and emerging risks. By integrating HML’s specialized knowledge into its portfolio, World Insurance Associates positions itself to better meet the evolving needs of its customers, remaining competitive in a fast-paced marketplace.

For clients of HML and new clients alike, this acquisition signals an opportunity for access to an expanded array of resources and enhanced support from a larger institution. With World Insurance Associates' commitment to personalized service and strategic growth, existing and prospective clients can expect improved coverage options and a robust support framework that caters to their specific business requirements.

As the integration process unfolds, HML clients will benefit from World Insurance's vast experience and wide-ranging resources, enhancing the overall quality of service they receive. With both companies sharing a commitment to exceptional customer service and a focus on innovation, the future looks promising as they move forward as one entity.

For additional information on World Insurance Associates and its service offerings, visit www.worldinsurance.com.

This acquisition not only marks a milestone for both companies but also speaks to the broader trends in the insurance industry, emphasizing the importance of adaptability and comprehensive service provision as key drivers of client satisfaction and business success.