World Insurance Associates LLC has continued its acquisition strategy with the finalization of its purchase of Van Syckel Insurance, a Bound Brook agency founded in 1865 and operating in both personal and commercial insurance.
The acquisition took place during a period of heightened transaction activity for World. The brokerage reported in separate announcements that it closed the Reinig Insurance Solutions acquisition on July 1 and completed the Bafumi Insurance Agency deal on the same day it acquired Van Syckel (August 1), according to supplemental disclosures published by the company. Earlier in the year, World added William P. Smart Associates in New Jersey and Green Bay Insurance Center in Wisconsin, giving the firm additional sector exposure - such as entertainment insurance and builders risk coverage - and new geographic reach.
Van Syckel Insurance is led by president Ryan Van Syckel, the great-great grandson of the agency’s founder. The firm provides home and auto coverage, flood insurance, workers’ compensation policies, and business insurance. It has remained a family-run operation for 160 years.
Syckel said the agency’s customers depend on it to identify insurance options that meet their needs.
"The commitment we provide to our customers is one of the reasons we have been in business for 160 years, and we look forward to providing them with even more products and services now that we are part of World," said Syckel.
World Insurance Associates, a Top 50 Insurance Brokerage headquartered in New Jersey, has acquired several firms in recent years across its personal and commercial lines portfolio.
"I am pleased to welcome Ryan and the Van Syckel team to the World family," said Rich Eknoian, CEO and co-founder of World. "This acquisition further expands World's presence in our home state of New Jersey, and I look forward to their continued success."
The transaction involved three advisory groups. Giordano, Halleran & Ciesla provided legal counsel to World, while Fortrust Diligence supported the diligence review. Connell Foley served as legal counsel to Van Syckel. No other advisors or diligence firms were identified by the companies.
World’s recent deals reflect an acquisition pattern spanning regional retail agencies and sector-specific firms. In Colorado, the purchase of Reinig Insurance Solutions added expertise in fitness-industry liability coverage, according to supplemental materials. In Connecticut, Bafumi Insurance Agency brought a multi-line retail book into the company. And in Wisconsin, the Green Bay Insurance Center acquisition added a long-standing personal and commercial lines agency founded in 1968.
