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World Insurance Associates buys Hingham, Massachusetts agency
The deal closed June 1, and American Insurance Agency was founded in 1991 and specializes in lines including commercial property, workers' compensation, and umbrella coverage.
World Insurance Associates, a private equity-backed insurance brokerage based in Iselin, New Jersey, has acquired American Insurance Agency in Hingham, Massachusetts, according to Insurance Business.
The purchase was disclosed Monday, with the deal closing on June 1. The price was not made public.
American Insurance Agency was founded in 1991 and has focused on insuring businesses that many carriers approach warily, including contractors, restaurant owners, amusement operators, and ice rinks. Its book of business includes commercial property, commercial auto, workers' compensation, and umbrella coverage, as well as homeowners and personal auto policies.
After the transaction, the Hingham office on Lincoln Street trades as American Insurance Agency, a Division of World Insurance Associates. American Insurance Agency owner James J. Farren said joining Wor