World Insurance Associates LLC has announced that it has acquired First International Insurance (FI Insurance), the insurance division of First International Bank & Trust of Watford City, N.D. The acquisition was effective Oct. 1. Terms of the transactions were not disclosed.
This is part of the growth strategy of the firm, which also acquired five insurance agencies in Louisiana and Texas in August: The Firm of Louisiana P&C, LLC and McFatter Insurance Agency, Inc. in Lake Charles, La.; Insure Plus LLC in Baton Rouge, La.; The Firm of Cenla in Alexandria, La; and Creekside Risk Management LLC in Houston, Texas.
FI Insurance director Andy Hendrickson said he looked forward to providing clients with additional products and services through the merger with World.
"At First International Insurance, we take pride in getting to know our clients personally, so we can find them the coverage that best protects them from loss," he said.
"This acquisition expands World's presence to North Dakota,” said World CEO and co-founder Rich Eknoian. “I know FI Insurance will continue to be successful as part of World."
FI Insurance brings over a century of expertise to World, with a specialized focus on contractors, contractor bonds, trucking, oil and gas manufacturing, hospitality, and agricultural insurance.
The firm operates from 12 locations in North Dakota, Minnesota, and Arizona, expanding World's geographical footprint in those regions.
World’s aggressive acquisition spree across multiple regions and specialty areas is part of the firm’s growth strategy to expand its reach on a national scale.
Headquartered in New Jersey, World provides products and services across personal and commercial sectors, employee and retirement benefits, and financial planning services
What do you think of this latest move by World Insurance? Share your thoughts below.
