World Insurance Associates Acquires Pardee’s Agency, Inc.

Tinton Falls, NJ, Jan. 27, 2022 (GLOBE NEWSWIRE) -- World Insurance Associates LLC (“WIA”), a Top 100 Insurance Brokerage, announced today that it acquired Pardee’s Agency, Inc. (“Pardee’s”) of Kingston, NY on December 31, 2021. Terms of the transaction were not disclosed.

The origin of Pardee’s can be traced back to 1863, and the existing corporation of Pardee’s Agency Inc. was filed in 1978. The management of Pardee’s assumed its current structure on January 1, 1993, and is now shared between Barbara Buddenhagen and Scot Hastie. They have been in their current location in historic uptown Kingston since 1985. Pardee’s products include business insurance, auto insurance, health insurance, home insurance and life insurance.

“Our professionals have experience and knowledge in the products we offer, and our clients trust us to build an insurance package that fits their needs and budget. We’re always prepared to guide our clients through the process and explain everything to them plainly, without the jargon,” says  Barbara Buddenhagen, President, Pardee’s. “We understand the importance of making sure our clients understand the value of the plans and policies they choose. We take pride in knowing that our clients continually turn to us for advice on insurance choices and rely on us whenever they suffer a loss,” adds J. Scot Hastie, CIC, Vice President, Pardee’s.

“It’s great to have Pardee’s join the World family,” says Rich Eknoian, CEO and Co-Founder of WIA. “They take pride in delivering exceptional, personalized service to their clients, and I know they will be a great fit with WIA.”  

Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence advised them on the transaction. Freeman Howard provided legal counsel to Pardee’s, and TAG Financial Institutions Group advised them on the transaction. No other advisors, diligence firms or legal counsel were disclosed.

About World Insurance Associates LLC

World Insurance Associates LLC (World) is headquartered in Tinton Falls, N.J., and is a full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance lines, employee benefits, retirement and financial services and human capital management solutions. Since its founding in 2012, World has completed 135 acquisitions and serves its customers from more than 150 offices in the U.S. World is ranked #2 on Business Insurance’s Fastest Growing Brokers list, #53 on Business Insurance’s 100 Largest Brokers of U.S. Business list, #31 on Insurance Journal’s Top 100 Independent P&C Agencies list, and #38 on Insurance Journal’s Top 50 Personal Lines Agencies list. For more information, please visit www.worldinsurance.com.

​SOURCE: www.globenewswire.com/news-release/2022/01/27/2374659/0/en/World-Insurance-Associates-Acquires-Pardee-s-Agency-Inc.html

This Post is for informational purposes only and does not constitute an offer, invitation or recommendation to buy, sell, subscribe for or issue any securities. While the information provided herein is believed to be accurate and reliable, TAG Financial Institutions Group, LLC and Ashland Securities, LLC make no representations or warranties, expressed or implied, as to the accuracy or completeness of such information. All information contained herein is preliminary, limited and subject to completion, correction or amendment. It should not be construed as investment, legal, or tax advice and may not be reproduced or distributed to any person. Certain Principals of TAG Financial Institutions Group, LLC are registered representatives of Ashland Securities, LLC Member FINRA, SIPC. TAG Financial Institutions Group, LLC and Ashland Securities, LLC are separate and unaffiliated entities.  Securities and Investment Banking Services are offered through Ashland Securities, LLC.