World Insurance Associates LLC (WIA) acquired True & Associates of Westfield, N.J. on December 31, 2020. True & Associates is its largest property/casualty acquisition to date. Terms of the transaction were not disclosed.
True & Associates is a multi-line full-service property/casualty agency with differentiated services, providing commercial and personal lines product offerings. It was founded in 1984 by Thomas True and specializes in providing cutting edge services and product expertise to the construction industry. Its mission is to provide clients with cost-effective risk management solutions to minimize their exposure to financial loss.
WIA is headquartered in Tinton Falls, N.J., and is a full-service insurance brokerage providing asset and lifestyle protection with risk management, insurance and benefit consulting services for individuals and businesses. Since its founding in 2012, WIA has completed 91 acquisitions and serves its customers from 94 offices in 18 states and Washington, D.C.
Giordano, Halleran & Ciesla provided legal counsel to WIA. Mystic Capital Advisors Group and Manhattan Group advised WIA on the transaction. Connell Foley LLP provided legal counsel to True & Associates. No other advisors, diligence firms or legal counsel were disclosed.
Source: World Insurance Associates
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