Iselin, NJ — World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Young Insurance Agency Group, Inc. (“Young Insurance”) of Portsmouth, VA on July 1, 2023. Terms of the transaction were not disclosed.
Since 1973, Young Insurance has been providing clients with insurance solutions for their personal and business needs.
“At Young Insurance, we protect what’s important to our customers, providing them with the right insurance at the right price,” says William “Bill” Young, President, Young Insurance Agency Group. “As part of World, we can offer our customers even more products and services, while continuing our mission to be the one stop shop for their insurance needs.”
“On behalf of the World family I’d like to give a warm welcome to Young Insurance,” says Rich Eknoian, CEO and Co-Founder of World. “Young is a group of qualified insurance professionals, and I Iook forward to their continued success as part of World.”
Giordano, Halleran & Ciesla provided legal counsel to World on the transaction. Connell Foley LLP provided legal counsel to Young Insurance on the transaction. No other advisors, diligence firms or legal counsel were disclosed.
Source: World Insurance Associates LLC
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