World Insurance Buys Commercial Insurance Agency of Massachusetts
World Insurance Associates announced has acquired Commercial Insurance Agency of Belmont, Massachusetts.
Terms of the May 1, 2022 transaction were not disclosed.
George W. Ruggiero, Jr. established CIA in 1975 and today he leads the company along with Betsy Pridham. The agency’s portfolio of clients reflects a focus on the food and hospitality business with emphasis on food processing, distributing, manufacturing and restaurants.
World Insurance Associates is headquartered in Iselin, New Jersey. Since its founding in 2012, World has completed 150 acquisitions and serves its customers from more than 160 offices in the U.S. It offers personal and commercial insurance lines, employee benefits, retirement and financial services and human capital management services.
Giordano, Halleran & Ciesla provided legal counsel to WIA, and Fortrust Diligence advised WIA on the transaction. Morrison Mahoney provided legal counsel to CIA, and PKF O’Connor Davies advised CIA on the transaction.