TINTON FALLS, N.J.–(BUSINESS WIRE) – World Insurance Associates LLC (WIA), a Top 100 Insurance Brokerage, announced today that it recently acquired The Watts Group LLC (“The Watts Group”) of West Hartford, CT.
Terms of the transaction were not disclosed.
Founded in 2003 by Mike Watts, The Watts Group is a surety bond and P&C agency serving the New England region. The Watts Group has a long history of finding the best solutions to meet their clients’ unique needs, all while providing industry-leading client service.
“The Watts Group is an excellent complement to our current surety bonds business,” states Rich Eknoian, CEO and Co-Founder of WIA. “Mike and the rest of the leadership team are well known in the industry as subject matter experts in the surety space. We are excited to welcome them to our team.”
“Since 2003, we have built a strong book of business focused on mid-sized and large-scale accounts,” said Mike Watts, President of The Watts Group. “We are looking forward to joining forces with WIA’s surety group to grow and develop the division.”
Giordano, Halleran & Ciesla provided legal counsel to WIA. Andros, Floyd & Miller provided legal counsel to The Watts Group. No other advisors, diligence firms or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC is headquartered in Tinton Falls, NJ, and is a nationally ranked, full-service insurance brokerage providing world-class asset and lifestyle protection with risk management, insurance, and benefit consulting services for individuals and businesses. Since its founding in 2012, WIA has completed 85 acquisitions and serves its customers from 71 offices in 16 states. WIA has been named one of The Most Successful Companies in America by Inc. 5000, is a Top 100 P/C Agency by Insurance Journal and Business Insurance, and a five-time honoree by NJBIZ Fast 50. For more information, please visit www.worldinsurance.com.