World Insurance Associates LLC (“World”), a Top 50 Insurance Brokerage, announced today that it acquired the business of First International Insurance (“FI Insurance”) — a division of First International Bank & Trust of Watford City, ND — on October 1, 2024. Terms of the transaction were not disclosed.
FI Insurance has over 100 years of history and specializes in contractors, contractor bonds, trucking, oil and gas manufacturing, hospitality, farm, agriculture, crop and hail. Today they have twelve locations across North Dakota, Minnesota, and Arizona.
“At First International Insurance, we take pride in getting to know our clients personally, so we can find them the coverage that best protects them from loss,” says Andy Hendrickson, Director of Insurance, First International Insurance. “It’s great to join World, and we look forward to providing our clients with the same level of exceptional customer service with additional products and services.”
“On behalf of World, I would like to extend a warm welcome to FI Insurance,” says Rich Eknoian, CEO and Co-Founder of World. “This acquisition expands World’s presence to North Dakota. I know FI Insurance will continue to be successful as part of World.”
Giordano, Halleran & Ciesla provided legal counsel and Alvarez & Marsal advised World on the transaction. Potomac Law Group, PLLC provided legal counsel and MarshBerry advised FI Insurance on the transaction. No other advisors, diligence firms, or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement planning and financial planning services and human capital management solutions. Since its founding in 2011, World has completed more than 220 acquisitions and serves its clients from more than 250 offices across the United States. World is ranked #28 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #15 on the Top 100 P&C Agencies by Insurance Journal, ranked #19 on the Top 50 Personal Lines Agencies and ranked #19 on the Top 50 Commercial Lines Agencies by Insurance Journal. For more information, please visit www.worldinsurance.com.