World Insurance Associates of Iselin acquired Texas-based Abacus Insurance.
Giordano, Halleran & Ciesla provided legal counsel and MarshBerry advised World on the transaction. Connell Foley provided legal counsel to Abacus on the private transaction.
Abacus provides primarily commercial lines insurance to their clients, with some personal lines insurance. They have a specialization in hotels/motels as well as convenience stores and were founded back in 2016.
World CEO Rich Eknoian shares his continued hope for working with Abacus’ specialization.
“The acquisition of Abacus adds additional depth to World’s Texas operation by introducing a fast-growing specialist in the hotel/motel and convenience store spaces,” he said. “I know Abacus will continue to be successful for us.
“We maintain an incredible client retention rate by providing a high-quality service,” Abacus co-unit leader Ankit Patel said. “Our clients put their trust in us, and are confident referring us to their friends, family, and colleagues.”
