Tinton Falls-based World Insurance Associates LLC acquired Offshore Risk Management of Cocoa, Fla. on Sept. 1, the company announced Sept. 13.
ORM is an international and innovative marine, aviation, and specialty risks insurance broker, which has served thousands of clients on six continents since its inception in 1972.
ORM President William Coates said that the company looks “forward to continued growth as part of WIA.”
“It’s great that ORM is joining the World family,” says WIA CEO and co-founder Rich Eknoian in a prepared statement. “ORM’s focus is on the offshore marine and aviation space, and with them joining our team we will be able to expand our reach in these markets.”
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Hill Wallack provided legal counsel to ORM.
Financial terms of the transaction were not disclosed.
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