ISELIN, N.J. — World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Abacus Insurance and Financial Services (“Abacus”) of Irving, TX on April 1, 2025. Terms of the transaction were not disclosed.
Abacus provides primarily commercial lines insurance to their clients, with some personal lines insurance. They have a niche in hotels/motels and convenience stores. The company was founded in 2016 by Rafiq Hassan, Abid Hassan, and Shahira “Saira” Somani. Ankit Patel became a partner in 2024.
“At Abacus we treat our clients with respect, honesty and humility,” says Saira Somani, Co-Unit Leader, Abacus Insurance and Financial Services. “These are the core values that Abacus was founded upon, and they fuel our pursuit of excellence in providing consistent, stellar coverage at the most competitive and affordable pricing. We look forward to joining World, and continuing to grow, offering our clients additional products and services.”
“We maintain an incredible client retention rate by providing a high-quality service,” says Ankit Patel, Co-Unit Leader, Abacus Insurance and Financial Services. “Our clients put their trust in us, and are confident referring us to their friends, family, and colleagues. We are happy to be a part of World.”
“On behalf of the World family, I would like to welcome Abacus,” says Rich Eknoian, CEO and Co-Founder of World. “The acquisition of Abacus adds additional depth to World’s Texas operation by introducing a fast-growing specialist in the hotel/motel and convenience store spaces. I know Abacus will continue to be successful.”
Giordano, Halleran & Ciesla provided legal counsel and MarshBerry advised World on the transaction. Connell Foley LLP provided legal counsel to Abacus on the transaction. No other advisors, diligence firms, or legal counsel were disclosed.
SOURCE WORLD INSURANCE ASSOCIATES LLC
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