World Insurance Associates Acquires Sumner & Sumner, Inc. Insurance

Tinton Falls, NJ, Feb. 01, 2022 (GLOBE NEWSWIRE) -- World Insurance Associates LLC (“WIA”), a Top 100 Insurance Brokerage, announced today that it acquired Sumner & Sumner, Inc. Insurance (“Sumner & Sumner”) of Willimantic, CT on December 31, 2021. Terms of the transaction were not disclosed.

Sumner & Sumner’s history begins in 1851, when the “The A.W. Jillson Insurance Agency” began writing fire and life insurance in Willimantic, CT. The agency was then purchased by A.B. Adams in 1862. Eventually, new talent was brought into the agency, with George Elliot and Stanley Sumner joining the firm in 1926. Later, Stanley’s brother Homer bought Mr. Elliot’s interest, and in 1947 the agency took on the name “Sumner & Sumner”. Today, Sumner & Sumner offers personal and commercial insurance, as well as financial products and benefits to their clients.

“We have always continued to grow with the industry and our community” says Brendan J. Quinn, President, Sumner & Sumner. “As part of World Insurance, we are poised to serve our clients for another 170 years.”

“We are pleased welcome Sumner & Sumner to the World family,” says Rich Eknoian, CEO and Co-Founder of WIA. “Sumner & Sumner offers comprehensive, affordable insurance solutions to individuals, families and businesses, and as part of WIA,  I know they will continue to do so.”

Giordano, Halleran & Ciesla provided legal counsel to WIA, and  Fortrust Diligence advised them on the transaction. Messier, Massad, Burdick & Flynn provided legal counsel to Sumner & Sumner 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 140 acquisitions and serves its customers from more than 160 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/2022/02/01/2376850/0/en/World-Insurance-Associates-Acquires-Sumner-Sumner-Inc-Insurance.html

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