Ellsworth Corporation Joins World Insurance Associates
News provided byWorld Insurance Associates
Sep 18, 2023, 10:46 AM ET
Iselin, NJ, Sept. 18, 2023 (GLOBE NEWSWIRE) -- World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Ellsworth Corporation (“Ellsworth”) of Metairie, LA on September 1, 2023. Terms of the transaction were not disclosed.
Over the past four decades, Ellsworth Corporation has built an exceptional reputation as one of the South’s most respected providers of surety and bonding, insurance and risk management and workforce health benefit solutions. Ellsworth has established niches and core teams that focus on commercial marine insurance, oil & gas insurance programs, and construction bonds.
“Ellsworth Corporation seeks to be a strategic business partner with our clients,” says Alex Ellsworth, President and CEO of Ellsworth Corporation. “Consultation, collaboration, and innovation are key to our ability to support each client’s mission. Acting with a sense of urgency, our goal is to provide our clients with new and innovative products and creative ideas that result in unique solutions. We are happy to be joining World and look forward to continuing with this approach, while offering our clients even more products and services.”
“On behalf of the World family I’d like to extend a warm welcome to Ellsworth Corporation,” says Rich Eknoian, CEO and Co-Founder of World. “Ellsworth is led by a team of talented, visionary, and highly skilled professionals who possess more than 90 years of combined experience in the fields of commercial insurance, risk assessment, surety, financial services, and corporate operational management. They will be a great addition to World.”
Giordano, Halleran & Ciesla provided legal counsel and Reagan Consulting advised World on the transaction. Satin and Lee Law provided legal counsel and Sica Fletcher advised Ellsworth on the transaction. No other advisors, diligence firms or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed over 200 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #28 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and ranked #20 on the Top 50 Personal Lines Agencies by Insurance Journal. For more information, please visit www.worldinsurance.com.
Jean Wiskowski, Chief Marketing Officer
World Insurance Associates LLC
732-380-0900 Ext. 736
Mergers & Acquisitions Contact:
Bradley Unger, Senior Vice President, Business Development
World Insurance Associates LLC
732-712-2230 Ext. 186
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