World Insurance Associates (World), a top-tier national insurance brokerage based in Iselin, announced a major leadership transition as part of a long-term succession plan. John Newell has been named chief executive officer, taking the helm from founder Rich Eknoian, who will now serve as executive chairman.
The move marks a pivotal moment for the firm, which has evolved from a 2011 startup into a diversified financial services powerhouse with more than $700 million in annual revenue.
Since establishing World 15 years ago, Eknoian has overseen the firm’s meteoric rise to become one of the largest independent brokerages in the United States. His strategy of disciplined M&A and a client-centered culture successfully attracted significant backing from Charlesbank Capital Partners in 2020 and Goldman Sachs Asset Management in 2023.
In his new role as Executive Chairman, Eknoian will shift his focus toward high-level strategic growth and M&A initiatives.
“I’m proud of what this team has built together, and I have great confidence in John’s ability to lead World into this next chapter,” Eknoian said. “He understands the brokerage model at its core and knows how to scale a complex organization.”
Newell joins World with over two decades of industry leadership. Most recently, he served as chief commercial officer at Newfront, where he was credited with expanding the firm’s geographic footprint and integrating AI and automation into service delivery.
Previously, Newell spent a significant portion of his career at Marsh, where he managed a $500+ million business unit with 2,000 employees. His appointment signals World’s intent to accelerate its digital transformation and organic growth.
Key priorities for Newell’s tenure include:
- Accelerating Organic Growth: Deepening industry-specific expertise across World’s 230+ offices.
- AI Enablement: Leveraging technology to enhance client experiences and streamline carrier partnerships.
- Talent Investment: Continuing to attract top-tier brokerage and financial specialists.
World’s private equity partners expressed strong support for the transition. Anthony Arnold, partner at Goldman Sachs Asset Management, noted that Newell’s experience is “perfectly aligned with World’s roadmap for the future.”
David Katz, managing director at Charlesbank, added, “With John at the helm and Rich’s continued involvement as Executive Chairman, we believe World is exceptionally well positioned to capitalize on the exciting market opportunities ahead.”
