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World Insurance Associates LLC announced Feb. 8 that it acquired J.K. Olivieri Insurance Agency Inc. of Middleboro, Mass.

Terms of the Dec. 1, 2021, transaction were not disclosed.

“J.K. Olivieri Insurance values their relationships with the clients they serve, and they strive to provide the very best service,” Rich Eknoian, CEO and co-founder of Tinton Falls-based WIA, said in a prepared statement. “We share that philosophy, and I know they will be a great addition to the World family.”

J.K. Olivieri Insurance was founded in 1979 and provides auto and home insurance to individuals, as well as commercial insurance.

“Our mission is to protect our clients’ financial future,” partner John Olivieri Jr. said in the statement. “We feel our role as an insurance agency is to assist our clients in selecting the best possible programs to fill their specific needs.”

Partner Ken Olivieri added, “In doing so, we research and present our clients with the best possible programs available at the best possible prices. As part of World, we will continue our mission, and offer our clients additional products and services to meet their needs.”

Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence LLC advised the firm on the transaction. Barton Gilman LLP provided legal counsel to J.K. Olivieri. No other advisers, diligence firms or legal counsel were disclosed.

Since it was founded in 2012, WIA has completed more than 140 acquisitions, including of SAS Insurance Agency Inc. of Kearny, also in December 2021.

Expanding the team

WIA also announced this week that compliance attorney and employee benefits thought leader Jay Kirschbaum joined the firm as the director of compliance for its employee benefits practice.

In this role, Kirschbaum will keep WIA’s clients and prospects updated on changing regulations impacting employee benefits programs via published articles and blogs, webinars, workshops, seminars and industry events.

“Jay is a highly recognized thought leader in the employee benefits space, and I am thrilled that he has joined our team as we continue to invest in bench strength to support our middle and large market clients,” Jennifer Barton, WIA’s head of benefits, North America, said in a prepared statement. “Jay’s experience combines a high level of technical expertise with creative and practical business-oriented solutions in the design, administration and compliance of health and welfare benefits, particularly group medical plans and fringe benefit programs. He is uniquely positioned to provide tremendous value to our clients.”

Kirschbaum has more than 30 years of experience as a tax attorney specializing in employee benefits and the application of a broad range of compensation and employer-sponsored benefits programs. He has held leadership roles at Lockton, Aon Risk Solutions, Willis Towers Watson and MetLife.

“Joining World is a natural next step in my career after spending almost 20 years leading legal, compliance, and research teams at major consultancy firms,” Kirschbaum said in the statement. “I’m excited to provide World’s producers and clients with guidance on statutory and regulatory provisions, compliance issues and taxation matters that affect our clients’ employee benefits programs.

Rich Eknoian, World’s CEO, added, “Jay is a phenomenal addition to our new employee benefits team, and I have no doubt that he will be a tremendous partner to our clients. His extensive background in the employee benefits space will enable World to stay at the forefront of this ever-changing industry so we can better serve our clients.