World acquires Arizona-based Stern Insurance Group
By Isha Marathe
Jan 30 - (The Insurer) - World Insurance Associates has announced that it acquired Scottsdale, Arizona-based Stern Insurance Group (SIG), on 1 December 2024.
The financial terms of the deal were not disclosed. SIG specializes in counseling corporations in the areas of employee benefits and risk management services and provides individuals with products across medical, life, and disability protection.
Rich Eknoian, CEO and co-founder of World, commented: "Stern has built a strong network in the Scottsdale area, and with their expertise, I know they will continue to be successful as part of World."
On Tuesday, World announced that it acquired New York-based HML Brokerage. To date, the company has completed over 250 acquisitions.
Giordano Halleran & Ciesla provided legal counsel and Reagan Consulting advised World on the transaction. Satin and Lee Law PC provided legal counsel and MidCap Advisors advised Stern on the transaction.
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