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World Insurance coverage Associates (World) has purchased the companies of Haddonfield, New Jersey-based Calhoun Company and Southington, Connecticut-based AVI Insurance coverage Group.
The phrases of the 2 separate offers haven’t been divulged.
Based in 1926, Calhoun has been catering to the insurance coverage necessities of people and companies in New Jersey and Pennsylvania for practically a century.
Calhoun Company president Chuck Calhoun mentioned: “Calhoun is dedicated to a excessive customary of excellence in all we do.
“We take skilled accountability to assist our prospects make the fitting insurance coverage selections very severely, and I do know World follows the identical strategy. We sit up for increasing the services we offer to our prospects.”
World co-founder and CEO Wealthy Eknoian mentioned: “I want to welcome Calhoun to the World household. “They supply a confirmed degree or service that’s targeted on private consideration and responsiveness, and I do know they are going to be a very good match.”
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Giordano, Halleran & Ciesla provided authorized counsel whereas Fortrust Diligence suggested World on the transaction.
Hagner & Zohlman provided authorized counsel to Calhoun on the deal.
AVI Insurance coverage Group specialises in offering hospitality insurance coverage for inns and motels.
It additionally gives industrial strains dangers together with dental practices, gasoline stations, lessor threat, liquor shops, actual property accounts and procuring centres.
Commenting on the deal, AVI Insurance coverage Group principal Anand Patel mentioned: “AVI is happy to hitch World Insurance coverage.
“We sit up for increasing the services we provide to our present and future shoppers.”
Eknoian mentioned: “On behalf of World, I want to welcome AVI. AVI has a distinct segment within the hospitality business and might be nice match with World.”
Giordano, Halleran & Ciesla provided authorized counsel and Fortrust Diligence suggested World on the deal.
Legacy Advisors offered recommendation to AVI on the transaction.
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