Tinton Falls-based World Insurance Associates LLC (WIA), said Sept. 16 it acquired The Premium Group Inc. dba Argus Risk Advisors (Argus) of New York City and Solon, Ohio on Sept. 1. Terms of the deal were not disclosed.
Argus is a specialty health and welfare brokerage firm serving the medical malpractice needs of the health care industry. It is focused on innovative insurance solutions for physicians, physician groups, and developing health care delivery models. Argus has been a leader in the medical malpractice insurance industry for more than 20 years.
“We are among the largest and most respected specialty brokers of insurance solutions for the healthcare industry in the United States,” said Argus Chief Executive Officer Aaron Richard. “Our focus is to help protect the reputation, personal income, and general business operations of each healthcare client. We look forward to being part of the World organization.”
“We are happy to welcome Argus to the World family,” said Rich Eknoian, CEO and co-founder of WIA. “Argus is an experienced and diverse team that is committed to offering insurance solutions that meet their clients’ needs.”
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Alvarez and Marsal advised WIA on the transaction. Satin and Lee Law provided legal counsel to Argus, and Sica Fletcher advised them. No other advisors, diligence firms or legal counsel were disclosed.
Since its founding in 2012, WIA has completed 116 acquisitions and serves its customers from more than 131 offices in the U.S.
