World Insurance Associates has acquired the business of Archambault Insurance Associates, effective Dec. 1, 2024.
Terms of the transaction were not disclosed.
Archambault, founded in 1928 by Joseph A. Archambault, is a third-generation, family-owned agency providing insurance services to individuals, families and businesses in Connecticut, Rhode Island and Massachusetts. The agency offers personal, commercial, life and health, and surety insurance.
“I would like to welcome Archambault to the World family,” said Rich Eknoian, CEO and co-founder of World Insurance. “This acquisition adds to World’s presence in Connecticut.”
Giordano, Halleran & Ciesla provided legal counsel and MidCap Consulting advised World Insurance on the transaction. Satin & Lee Law P.C. provided legal counsel and Sica Fletcher advised Archambault. No other advisors, diligence firms or legal counsel were disclosed.
In an interview with Insurance Business in December 2024, Eknoian said he expects 2025 to be a “record-breaking year” for the company in terms of deal volume and overall activity. He said that the company’s pipeline for the year signals a potential return to pre-2024 levels of deal-making.
In January, the company announced its acquisition of HML Brokerage LLC, which provides property and casualty insurance, and Stern Insurance Group, which specializes in employee benefits and risk management services.
These acquisitions follow the company’s purchase of Sprague Israel Giles, which specializes in niche programs, and NorthStar Insurance Services in Massachusetts.
Eknoian said that the company’s NorthStar acquisition not only deepened its footprint but also served as a platform for additional bolt-on acquisitions in the area.
“We don’t just acquire businesses; we integrate them thoroughly,” Eknoian said in the interview. “We work closely with new partners to standardize workflows, unify platforms and centralize services such as claims and loss control.”
