World Insurance Associates, an independent insurance agency headquartered in Tinton Falls, New Jersey, said it recently acquired AIV Group, an insurance agency serving the Asian community.
AIV Group, in Avenel, New Jersey, was founded in 2010 by Sonali Shah, who will now join World Insurance Associates as a principal, according to the announcement.
Terms of the deal were not disclosed.
AIV Group specializes in insurance for hospitality, real estate, professional services and retail sectors for the Asian community.
World Insurance Associates sells in 41 states and specializes in insurance for transportation companies, the hospitality industry, coastal properties, and high net worth individuals in addition to general commercial clients in diverse industries.
World Insurance Associates was founded in 2012 by four Greg Kroeger, Ed Wargins, Phil Nisbet and Rich Eknoian. The agency has eight offices in New Jersey, Pennsylvania and New York. It has completed 14 acquisitions.
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