World Insurance Associates LLC announced that it acquired the business of Abacus Insurance and Financial Services of Irving, Texas on April 1, 2025. Terms of the transaction were not disclosed.
Abacus provides primarily commercial lines insurance to their clients, with some personal lines insurance. They have a niche in hotels/motels and convenience stores. The company was founded in 2016 by Rafiq Hassan, Abid Hassan, and Shahira “Saira” Somani. Ankit Patel became a partner in 2024.
Giordano, Halleran & Ciesla provided legal counsel and MarshBerry advised World on the transaction. Connell Foley LLP provided legal counsel to Abacus on the transaction. No other advisors, diligence firms, or legal counsel were disclosed.
Topics Mergers & Acquisitions Texas
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