Insurance broker World Insurance Associates announced that it recently acquired the business of Affiliated Insurance Managers (AIM) of Warwick, Rhode Island.
AIM was founded in 1937. Today the agency is primarily focused on commercial lines, while also providing insurance to individuals and families, in southern New England.
Sean P. Daly, CPCU, president and CEO of AIM, said that joining World means AIM will have additional products and services to offer customers.
Giordano, Halleran & Ciesla provided legal counsel and Fortrust Diligence advised World on the transaction. Winget, Spadafora & Schwartzberg LLP provided legal counsel to AIM on the transaction.
Terms of the transaction were not disclosed.
World is headquartered in Iselin, New Jersey. Since its founding in 2011, World has completed more than 200 acquisitions and now has more than 250 offices across the country. World is ranked #15 on the Top 100 P&C Agencies by Insurance Journal and #19 on the Top 50 Personal Lines Agencies and #19 on the Top 50 Commercial Lines Agencies by Insurance Journal.
Topics Mergers & Acquisitions
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