Iselin, NJ, Oct. 11, 2023 (GLOBE NEWSWIRE) — World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of Oakwood Insurance Agency, LLC (“Oakwood”) dba Insure Big Rig of Califon, NJ on October 1, 2023. Terms of the transaction were not disclosed.
Oakwood Insurance Agency LLC has been providing premier trucking insurance to customers since 2011. The transportation division of Oakwood, Insure Big Rig, offers a complete range of affordable truck insurance to truck owner-operators and fleets.
“We are one of the most experienced commercial trucking insurance specialists in the country,” says John Milelli, Principal, Insure Big Rig. “Our team is very responsive and quickly provides answers to our customers’ trucking insurance questions. It’s great to be joining World and continuing to provide this high level of service to our existing and new customers.”
“On behalf of the World family, I’d like to welcome Oakwood Insurance,” says Rich Eknoian, CEO and Co-Founder of World. “Their knowledge of the trucking industry, and their outstanding level of customer service will make them a great fit, and I know they will continue to be successful.”
Giordano, Halleran & Ciesla provided legal counsel and TAG Consulting advised World on the transaction. APEX Business Consulting, Inc. provided legal counsel and Agency Brokerage Consultants advised Oakwood on the transaction. No other advisors, diligence firms or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed over 200 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #28 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and ranked #20 on the Top 50 Personal Lines Agencies by Insurance Journal. For more information, please visit www.worldinsurance.com.
Media Contact:
Jean Wiskowski, Chief Marketing Officer
World Insurance Associates LLC
732-380-0900 Ext. 736
Mergers & Acquisitions Contact:
Bradley Unger, Senior Vice President, Business Development
World Insurance Associates LLC
732-712-2230 Ext. 186
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