#United States #World Insurance #Iselin #John Newell #Rich Eknoian

World Insurance Associates Welcomes New Leadership

In a significant leadership transition, World Insurance Associates has appointed John Newell as the new Chief Executive Officer. He takes over from the founder, Rich Eknoian, who will continue at the firm as Executive Chairman. This strategic move is set against the backdrop of continued growth and transformation within the organization, aiming to reinforce its position as a leading insurance brokerage and financial services firm in the U.S.

Rich Eknoian, who founded World Insurance Associates in 2011, has seen the company evolve from a startup to one of the largest independent brokerages in the United States. Under his leadership, the firm recorded more than $700 million in revenue and established a reputation for excellence in client service and innovative offerings. Eknoian stated, "When I founded World, I aimed to create a brokerage that prioritized clients, treated employees as partners, and maintained a disciplined approach while ensuring integrity in operations."

As he transitions into his new role as Executive Chairman, Eknoian will remain actively involved in strategic growth initiatives. He expressed confidence in Newell’s ability to lead this next chapter, citing his deep understanding of the brokerage model and his capacity to scale complex organizations.

John Newell, the new CEO, boasts over two decades of experience in the insurance brokerage industry. He previously served as Chief Commercial Officer at Newfront, where he was instrumental in leading business units across different sectors, including insurance and retirement services. His expertise lies in driving growth strategies and maintaining high-performing teams, which will be crucial for World Insurance Associates as it navigates the competitive landscape.

During his tenure at Newfront, Newell innovated service delivery models through technology, incorporating artificial intelligence and automation to enhance client experiences. Before that, he held significant roles at Marsh, where he managed a $500 million business and oversaw nearly 2,000 employees across 19 offices.

With Newell at the helm, World aims to accelerate organic growth, deepen industry expertise, and boost technological capabilities to provide superior client services. In a joint statement with Eknoian, Newell expressed excitement about the future, stating, "Our focus now is to accelerate organic growth, deepen industry expertise, and deploy technology to better equip our colleagues to deliver more for clients and enhance collaboration with our carrier partners."

The leadership transition comes as part of a multi-year succession plan developed in collaboration with the board of directors. Existing partners, Charlesbank Capital Partners and Goldman Sachs Asset Management, remain committed to supporting World’s strategic initiatives, which include investments in growth and acquisitions to further solidify the firm’s market presence.

Anthony Arnold from Goldman Sachs hailed Newell as a deserving successor, noting his successful track record in leading client-focused brokerage firms, as well as the value he will bring to World’s strategic future. Meanwhile, David Katz from Charlesbank recognized Eknoian as a founding leader who built a company committed to large-scale products while retaining a client-first culture.

As World Insurance Associates enters this new era of leadership, both Eknoian and Newell are poised to leverage their expertise to ensure continued success and innovation in the insurance brokerage sector. This transition not only reflects a commitment to growth but also underscores the importance of maintaining a culture that prioritizes client relationships and operational excellence.

World Insurance Associates operates with over 230 offices across the U.S. and U.K., providing an extensive range of services including commercial and personal insurance solutions, employee benefits, wealth management, and more. The firm's focus on innovative, data-driven solutions positions it well for the future, continuing to empower clients in their risk management endeavors.

For more information on World Insurance Associates and their services, visit www.worldinsurance.com.