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World Insurance coverage Associates (World) has purchased the companies of Haddonfield, New Jersey-based Calhoun Company and Southington, Connecticut-based AVI Insurance coverage Group.
The phrases of the 2 separate offers haven’t been divulged.
Based in 1926, Calhoun has been catering to the insurance coverage necessities of people and companies in New Jersey and Pennsylvania for almost a century.
Calhoun Company president Chuck Calhoun stated: “Calhoun is dedicated to a excessive customary of excellence in all we do.
“We take skilled duty to assist our prospects make the correct insurance coverage selections very severely, and I do know World follows the identical method. We look ahead to increasing the services and products we offer to our prospects.”
World co-founder and CEO Wealthy Eknoian stated: “I wish to welcome Calhoun to the World household. “They supply a confirmed degree or service that’s centered on private consideration and responsiveness, and I do know they are going to be a superb match.”
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Giordano, Halleran & Ciesla supplied authorized counsel whereas Fortrust Diligence suggested World on the transaction.
Hagner & Zohlman supplied authorized counsel to Calhoun on the deal.
AVI Insurance coverage Group specialises in offering hospitality insurance coverage for motels and motels.
It additionally provides business traces dangers together with dental practices, fuel stations, lessor danger, liquor shops, actual property accounts and purchasing centres.
Commenting on the deal, AVI Insurance coverage Group principal Anand Patel stated: “AVI is happy to hitch World Insurance coverage.
“We look ahead to increasing the services and products we provide to our present and future shoppers.”
Eknoian stated: “On behalf of World, I wish to welcome AVI. AVI has a distinct segment within the hospitality trade and might be nice match with World.”
Giordano, Halleran & Ciesla supplied authorized counsel and Fortrust Diligence suggested World on the deal.
Legacy Advisors supplied recommendation to AVI on the transaction.
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