World Insurance Associates Acquires CDR Insurance Group Inc.

Iselin, NJ, Nov. 08, 2022 (GLOBE NEWSWIRE) -- World Insurance Associates LLC (“WIA”), a Top 50 Insurance Brokerage, announced today that it acquired CDR Insurance Group, Inc. (“CDR”) of Waterbury, CT on October 1, 2022. Terms of the transaction were not disclosed.

CDR was founded in 1992, by Rick Rice. Today they provide commercial and personal insurance products and services to  customers in New England, as well as New York and  New Jersey.

“At CDR Insurance Group, Inc., we want to help protect the most precious things in our customers’ lives. We have always put our customers first, and it’s what sets us apart from the competition,” says Rick Rice, Owner, CDR Insurance Group Inc. “We are pleased to be joining World and look forward to expanding the products and services we provide our customers.”

“We offer unparalleled customer support, so we’re always there when our customers need us the most. We provide the extra layer of protection our customers are looking for. It’s great to join World, and continue to do so, “ says Vin Stifano, Owner, CDR Insurance Group. 

“On behalf of everyone at WIA, I’d like to welcome CDR to the World family,” says Rich Eknoian, CEO and Co-Founder of WIA. “I know they will continue to be successful as part of World.” 
    
Giordano, Halleran & Ciesla provided legal counsel to WIA, and MarshBerry advised them on the transaction.  Schwell Wimpfheimer & Associates provided legal counsel to CDR, and by Helfer & Associates advised them 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 and financial services and human capital management solutions. Since its founding in 2011, World has completed 160 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #2 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and is a Top-50 ranked personal lines agency by Insurance Journal. For more information, please visit www.worldinsurance.com. 

Jean Wiskowski, Chief Marketing Officer
World Insurance Associates LLC
732-380-0900 Ext. 736
jeanwiskowski@worldinsurance.com

Bradley Unger, Senior Vice President, Business Development
World Insurance Associates LLC
732-712-2230 Ext. 186
bradleyunger@worldinsurance.com

Source: World Insurance Associates