World Insurance Associates LLC on Friday said it has acquired Providence Financial Inc.
Terms of the transaction were not disclosed.
Providence, which shows 17 employees on its website, has offices in Sioux Falls, South Dakota, and Lincoln, Nebraska, according to a World Insurance statement.
Rich Eknoian, CEO and co-founder of World, said in the statement the deal expands the broker’s business to the states of South Dakota and Nebraska.
World, headquartered in Iselin, New Jersey, is the 28th-largest broker of U.S. business, according to the most recent Business Insurance rankings.
Also Friday, Novatae Risk Group, the wholesale business of World, said it acquired American Management Corp. on Sept. 1.
Terms of the transaction were not disclosed.
American Management, with offices in Conway, Arkansas, and Glendale, Arizona, shows 15 employees on its website. The program manager specializes in coverages for service stations, convenience stores and fuel marketers, a Novatae statement said.
