Stern Insurance Group Joins Forces with World Insurance Associates to Expand Services

Stern Insurance Group Joins World Insurance Associates



In a strategic move to bolster its market presence and service diversity, World Insurance Associates LLC has officially announced its acquisition of Stern Insurance Group. This significant transaction, which took place on December 1, 2024, comes as World recognizes the value that the Scottsdale-based firm brings to its client base. While the specifics of the deal remained undisclosed, the impact of this acquisition is expected to resonate strongly within the insurance community.

Stern Insurance Group was founded in 1987 by Daryl Stern and is well-regarded for delivering innovative insurance solutions and exceptional client service. The firm has specialized in providing comprehensive coverage options tailored specifically for corporations, especially in the realms of employee benefits and risk management. Additionally, they cater to individual clients, offering a variety of insurance products ranging from medical to life and disability coverage.

Daryl Stern emphasizes the company’s commitment to integrity and leadership within the industry, stating, "We have invested in the resources necessary to deliver thoughtful strategic planning and technology-based solutions to address the evolving needs of our clients." His brother and fellow Principal, Eric Stern, highlights their motivation to transcend traditional business approaches to ensure that client satisfaction remains paramount.

Rich Eknoian, the CEO and Co-Founder of World Insurance Associates, expresses enthusiasm about welcoming Stern Insurance Group into the World family. He notes, "Stern has built a strong network in the Scottsdale area, and with their expertise, I know they will continue to thrive within World."

This acquisition aligns with World’s aggressive growth strategy aimed at expanding its reach within the U.S. insurance market. According to Jennifer Barton, the Head of Employee Benefits at World, the integration of Stern’s talented team and extensive experience exemplifies World’s values and reinforces its standing in Arizona.

The legal intricacies of the acquisition were facilitated by Giordano, Halleran & Ciesla, while MidCap Advisors played a critical advisory role for Stern, ensuring a seamless transition.

World Insurance Associates, established in 2011 and headquartered in Iselin, N.J., is a top-ranked, full-service insurance organization dedicated to both individual and business clients. It offers a diverse range of products and services, including personal and commercial insurance, employee and executive benefits, and human capital management solutions. Notably, World has accomplished over 250 acquisitions and operates across more than 250 offices nationwide. The company enjoys a robust reputation, being recognized as the 28th largest broker for U.S. Business and championing a position as one of the fastest-growing benefits brokers in the industry.

As World continues to expand, the integration of Stern Insurance Group signifies a promising future not only for both companies but also for their clients who will benefit from enhanced services and expertise. The focus on delivering greater value and achieving collective successes paints an optimistic picture for their ongoing collaboration in the ever-evolving insurance landscape.

For further details, you can visit World Insurance Associates.

Topics Financial Services & Investing)

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