On the heels of announcing three acquisitions and a rebranding campaign rollout, Tinton Falls-based World Insurance Associates LLC (WIA) said Aug. 16 that it acquired Torell Aviation Insurance Agency Inc. of Port Saint Lucie, Fla. on Aug. 1, 2021. Terms of the transaction were not disclosed.
Torell provides insurance products to the aviation business, and has been providing clients with aviation underwriting partner relationships for many years.
“With over 60 years of combined experience in aviation and insurance, we offer the ability to provide aviation insurance programs tailored to the needs of our clients,” says Peter Torell, president and founder of Torell Aviation. “We put the interests of our clients first and achieve the best value for their premium dollar.”
“It’s great to welcome Torell Aviation to the World family,” says Rich Eknoian, chief executive officer and co-founder of WIA. “Torell’s niche client base represents a tremendous opportunity for growth, both in terms of cross-selling our products and furthering our aviation specialty.”
Giordano, Halleran & Ciesla provided legal counsel to WIA. Hill Wallack provided legal counsel to Torell Aviation. No other advisors, diligence firms or legal counsel were disclosed.
Since its founding in 2012, World has completed 116 acquisitions and serves its customers from more than 135 offices in the U.S.
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