World Insurance Associates LLC (World) announced its acquisition of 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.
Edward B. Pierce Jr., NorthStar's founder and president, stated that the company’s approach involves personalized service and leveraging its scale to address client needs comprehensively.
"We take a local, hands-on approach in servicing our clients while leveraging the resources and expertise of our size to deliver the tailored solutions they need to protect their assets, reputation, people, and customers," said Pierce.
NorthStar senior vice president Gregory G. Pierce emphasized that the collaboration would allow the firm to maintain its service standards.
"As part of World, I know we will be able to continue to provide this level of service to our clients because we share the same goals and values with World," he said.
Meanwhile, World CEO and co-founder Rich Eknoian welcomed the NorthStar team, noting their industry knowledge and customer service.
"Their industry expertise and superior customer service make them a great fit, and I know they will continue to be successful as part of World," said Eknoian.
Earlier this year, World also acquired JBL Trinity Group, headquartered in Atlantic Highlands, New Jersey, and InterWeb Insurance, based in Lake Havasu City, Arizona. These acquisitions are part of the company's broader strategy to expand its national footprint and enhance its service offerings.
The transaction involved several advisors and legal firms. Giordano, Halleran & Ciesla provided legal counsel, and MarshBerry served as an advisor to World. NorthStar engaged Satin and Lee Law P.C. for legal services and Sica Fletcher for advisory support. No further details regarding additional advisors or firms were disclosed.
Based in Iselin, New Jersey, World offers personal and commercial insurance, employee and executive benefits, retirement and financial planning services, and human capital management solutions.
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