TRIC offers personal and business insurance services in Iowa, while the New Jersey-based True & Associates provides commercial and personal lines products
World Insurance Associates, a US-based insurance brokerage, has acquired Two Rivers Insurance Company (TRIC) and True & Associates, in two separate deals.
The company did not disclose the financial terms of both deals.
Based in Iowa, Two Rivers Insurance includes Two Rivers Insurance Services (TRIS) and Employee Benefits Systems (EBS). The company has been acquired from Two Rivers Financial Group.
Two Rivers Insurance offers personal and business insurance services across Eastern Iowa.
The company will continue to be based in Burlington and will provide insurance solutions from its offices in Ft. Madison, Earlham, and West Des Moines.
Its president and CEO Todd Ackerman will continue in his role.
Ackerman said: “TRIC is committed to providing responsive and innovative solutions to our clients’ insurance and risk management needs. To this end, our entire staff is dedicated to integrity, professionalism and unparalleled service every day.”
World Insurance Associates said that by joining its national network of regional insurance agencies, Two Rivers Insurance is expected to provide more products to its customers from a broader network of providers at competitive prices.
True & Associates, which is the other acquisition made by World Insurance Associates, is based in New Jersey.
Founded in 1984 by Thomas True, True & Associates is a multi-line full-service property casualty agency that offers commercial and personal lines products. The company is said to specialise in catering to the construction industry with cost-effective risk management solutions for minimising the exposure of its clients.
World Insurance Associates CEO and co-founder Rich Eknoian said: “True & Associates has won the trust and support of top trade associations based on their unique and differentiated service platform and unmatched knowledge. Thomas True and his team add meaningful depth to our already deep surety operations, bond capabilities, and our general presence in the tri-state area.”
Headquartered in New Jersey, World Insurance Associates caters to individuals and businesses with asset and lifestyle protection with risk management, insurance, and benefit consulting services. The insurance brokerage has completed more than 90 acquisitions since its founding in 2012.