World Insurance Associates LLC (World) announced its acquisition of Seattle-based Sprague Israel Giles, Inc (SIG) on Aug. 1, 2024. The terms of the transaction were not disclosed.
Founded in 1958 by David Sprague and Mike Israel, SIG expanded in 1968 when Leon Giles joined the firm, eventually becoming a partner. The company, now led by president John Policar and vice presidents Rob Karl, Marnie White, Monica Cripe, and Matt Conroy, offers commercial property and casualty insurance, employee benefits, and personal insurance products.
SIG also specializes in niche programs, including the Natural Insurance Program for Naturopaths and insurance for cannabis and CBD businesses.
Policar emphasized SIG’s commitment to client service and alignment with World’s approach.
“Everyone at SIG strives to give our clients expert advice and consultation on all insurance-related needs. We believe our service to our clients is second to none. We are pleased to join World, an organization that shares our approach and culture,” he said.
Rich Eknoian (pictured above), CEO and co-founder of World, welcomed the addition of SIG to the organization.
“With this acquisition, World enters a new state, Washington, and expands our footprint in the Pacific Northwest. SIG has a great reputation in Seattle and is highly regarded. I know they will continue to be successful as part of World,” Eknoian said.
Legal counsel for World was provided by Giordano, Halleran & Ciesla, while Reagan Consulting acted as the company’s advisor. Parrett Porto served as legal counsel for SIG, with BH Burke & Company advising on the transaction. Details of additional advisors, diligence firms, or legal counsel were not disclosed.
Last month, the brokerage also swooped for NorthStar Insurance Services (NorthStar) based in Needham, Massachusetts, effective July 1, 2024.
Founded in 1995, NorthStar is one of the insurance agencies in New England, offering a range of business and personal insurance services.
The firm expanded its operations through the acquisition of The Insurance Center in Claremont, New Hampshire, in 2014, and McCrillis & Eldredge, a property and casualty agency with a 125-year history, in 2022.
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