Iselin, NJ — World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Shield Insurance Services, LLC (“Shield”) of Freehold, NJ on June 1, 2023. Terms of the transaction were not disclosed.
Shield provides commercial insurance to the transportation sector, with a particular focus in the moving and storage industry.
“We are excited to join World,“ says Jose Caraballo, President, Shield Insurance Services. “They have a great reputation in the industry, and we look forward to increasing our business, as part of World.”
“I’d like to welcome Shield to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They will be a nice addition to our transportation business, and I look forward to watching them grow and succeed.”
Giordano, Halleran & Ciesla provided legal counsel to World on the transaction. The Law Offices of Robert F. Ranalli, LLC provided legal counsel to Shield on the transaction. No other advisors, diligence firms or legal counsel were disclosed.
Source: World Insurance Associates LLC
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