World Insurance Associates to acquire Charlotte-based LCL Insurance
World Insurance Associates (WIA), a US insurance brokerage, has acquired LCL Insurance based in Charlotte, North Carolina, for an undisclosed price.
LCL Insurance is engaged in providing risk management, risk placement, and claims supervision services.
Stewart Little – Managing Partner of LCL Insurance said: “Traditional insurance brokers focus on quoting the “lowest price” to their clients without any concern to reducing their risk.
“Our approach is slow and methodical. We take the time to identify our clients’ specific risk exposures and to design an insurance program around those needs. We are happy to continue this approach as a part of WIA.”
Based in Tinton Falls, New Jersey, World Insurance Associates caters to individuals and businesses with asset and lifestyle protection with risk management, insurance, and benefit consulting services.
World Insurance Associates has so far made 97 acquisitions since its founding in 2012.
Rich Eknoian – CEO and Co-Founder of World Insurance Associates said: “We are pleased to have LCL Insurance LLC lead us into North Carolina. We look forward to building our Charlotte presence around Stewart and his team.
“LCL has a history of providing solutions for clients with diverse insurance exposures, and we know they will continue to flourish as part of WIA.”
For the transaction, World Insurance Associates engaged Giordano, Halleran & Ciesla for legal counsel. For LCL Insurance, the legal counsel was Johnston, Allison & Hord.