World Insurance Associates Acquires True & Associates
- January 11, 2021
TINTON FALLS, N.J.--World Insurance Associates LLC (WIA), a Top 100 Insurance Brokerage, announced today that it acquired True & Associates of Westfield, NJ on December 31, 2020. True & Associates is its largest property and casualty acquisition to date. Terms of the transaction were not disclosed.
True & Associates is a multi-line full-service property casualty agency with differentiated services, providing commercial and personal lines product offerings. True & Associates was founded in 1984, by Thomas True, and is a recognized industry leader specializing in providing cutting edge services and product expertise to the construction industry. Their mission is to provide clients with cost-effective risk management solutions to minimize their exposure to financial loss.
“We are excited to welcome True & Associates to the World family,” said Rich Eknoian, CEO and Co-Founder of WIA. “True & Associates has won the trust and support of top trade associations based on their unique and differentiated service platform and unmatched knowledge. Thomas True and his team add meaningful depth to our already deep surety operations, bond capabilities, and our general presence in the tri-state area.”
“For over 36 years, businesses, professionals, families, and individuals have relied on True & Associates for their insurance and surety needs,“ said Thomas True, CEO. “From the beginning our formula for success was clear—provide outstanding service and superior products to our customers. We look forward to continuing our success working alongside WIA.”
Giordano, Halleran & Ciesla provided legal counsel to WIA. Mystic Capital Advisors Group and Manhattan Group advised WIA on the transaction. Connell Foley LLP provided legal counsel to True & Associates. No other advisors, diligence firms or legal counsel were disclosed.