Charlesbank Completes Growth Investment in World Insurance Associates

BusinessWireApril 2, 20203 min

World Insurance Associates LLC (“WIA”, “World”, or the “Company”), a leading full-service insurance brokerage, today announced that it has closed the previously announced majority investment from funds affiliated with Charlesbank Capital Partners (“Charlesbank”), a middle-market private equity firm based in Boston and New York. As part of the transaction, the WIA management team and employee shareholders remain major shareholders alongside Charlesbank. The financial terms of the growth investment were not disclosed

Founded in 2012, WIA offers comprehensive insurance coverage, risk management strategies, and benefits consulting services for businesses and individuals. The Company focuses on property and casualty lines, and has built centers of excellence in specialized industries such as transportation, hospitality, self-storage facilities, non-profits, and construction. WIA operates 40 offices in 12 states and has grown through a combination of organic growth and agency acquisitions, with 55 completed to-date. The growth investment from Charlesbank will enable WIA to accelerate its expansion program.

“We are excited to embark on World’s next phase of growth,” said WIA Chief Executive Officer Rich Eknoian. “With the benefit of Charlesbank’s financial and operational resources, we believe World is even better positioned to continue gaining share in the insurance brokerage market and to deliver best-in-class results for our customers, employees, and carriers.”

Piper Sandler & Co. and Macquarie Capital (USA) Inc. served as financial advisors to WIA, and Evercore served as financial advisor to Charlesbank. Paul Hastings LLP provided legal counsel to WIA, and Goodwin Procter LLP provided legal counsel to Charlesbank. Macquarie Capital Principal Finance and Madison Capital Funding provided debt financing for the transaction.


Leave a Reply

Your email address will not be published.


We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it fintech live news, finance press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the aptest trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way. We adopt a 360-degree approach in order to cater to present a holistic picture of the fintech arena.

Our Publications

FintecBuzz, 2024 © All Rights Reserved