#USA #World Insurance #Greer #Owens Insurance #Stokes Farnham

World Insurance Associates Expands with Strategic Acquisition

On January 1, 2025, the prominent brokerage firm, World Insurance Associates LLC, announced a significant milestone in its growth strategy. They acquired the Owens Insurance Agency and Stokes Farnham Insurance Agency, both well-respected establishments based in Greer, South Carolina. This acquisition marks a pivotal point for World as it aims to enhance its service offerings and extend its reach within the insurance industry.

Background of Owens and Stokes Farnham Insurance Agencies

Founded in 1952, Owens Insurance Agency has been a cornerstone of the upstate South Carolina insurance market, providing a wide array of insurance products, including commercial, personal, life, health, and bond insurance. With multiple locations including the Stokes Farnham branch in Travelers Rest, South Carolina, they have built a reputation for delivering quality service and fostering strong community ties.

The Owners, Christopher Crist of Owens and Shane Lynn of Stokes Farnham, expressed enthusiasm about the merger. Crist noted, “Over the years, we have prioritized quality customer service, community engagement, and supporting our neighbors.” Similarly, Lynn pointed to the enhanced capabilities this partnership would afford their clients, stating, “Joining World will allow us to provide even more services and products.”

The Strategic Benefits of the Acquisition

World Insurance Associates, ranked among the Top 50 insurance brokerages in the U.S., aims to leverage the established customer base and expertise of Owens and Stokes Farnham. Rich Eknoian, the CEO and Co-Founder of World, remarked, “The team of insurance professionals at Owens and Stokes Farnham provides comprehensive insurance solutions with a commitment to superb customer service.” This acquisition is not merely about expansion but about enriching the client experience through enhanced service offerings and innovation.

By uniting these agencies, World Insurance Associates is set to implement data-driven analytics and innovative insurance solutions tailored to meet the specific needs of their clientele. With a focus on employee and executive benefits, risk management, and long-term financial strategies, the combined expertise promises to elevate the consultancy aspect of insurance brokerage.

Legal and Advisory Support During the Transition

The transaction was facilitated with the legal support of Giordano, Halleran & Ciesla for World and Nelson Mullins Riley & Scarborough LLP for Owens. Sica Fletcher provided advisory counsel to World, and FrontRidge Advisors supported Owens throughout the acquisition process. Though the financial details of the transaction remain undisclosed, the intent is clear: this acquisition is about building a future of comprehensive insurance solutions.

Looking Ahead

As World Insurance Associates embarks on this new chapter with Owens and Stokes Farnham, both agencies anticipate a bright future characterized by enhanced growth and service excellence. With their combined resources and commitment to customer satisfaction, they are poised not just to meet the needs of their clients but to adapt dynamically to the evolving challenges of the modern insurance landscape.

In conclusion, the merger of Owens and Stokes Farnham into the World Insurance fold exemplifies a robust strategic investment aimed at service enhancement and market expansion. It reflects the broader trend of consolidation within the insurance sector as companies seek to strengthen their positions and address client needs effectively in a changing marketplace.