World Insurance Associates (World) has acquired the business of Dunaway Insurance Agency, based in New Palestine, Indiana, and Hoosier Insurance Agency, located in Bloomfield, Indiana. The transaction was completed on June 1. Financial terms of the deal were not disclosed.
Dunaway Insurance Agency was established in 1979 and was purchased by Doug Todd in 1994. Doug Todd currently leads the agency alongside Tina Todd. Doug Todd manages commercial, agricultural, and commercial-affiliated personal lines accounts, while Tina Todd oversees the personal lines segment.
Hoosier Insurance Agency, founded in 1990 by Doug Todd’s father, was acquired by Doug in 2005 and now primarily serves personal lines clients.
Doug Todd said that the agencies provide clients with comprehensive insurance programs to protect their possessions and noted, “As part of World, we will provide additional products and services to our clients.”
World Insurance Associates CEO and co-founder Rich Eknoian (pictured above) welcomed the new agencies, saying, “The agencies have strong roots in the communities they work in, and they have an excellent reputation. I know they will continue to be successful as part of World.”
Eknoian also emphasized the agencies’ established presence and reputation in their respective markets.
The acquisition of Dunaway and Hoosier is part of a broader expansion strategy by World Insurance Associates. Earlier this year, World acquired the business of Christopher Williams Agency and Barrett Millard LLC, extending its reach in Pittsford and the greater Rochester, New York area.
World has also expanded in the hospitality sector with the acquisition of Abacus Insurance and Financial Services of Irving, Texas, in April. Abacus, founded in 2016, specializes in commercial lines for hotels, motels, and convenience stores, and has recently broadened its leadership team.
The company also completed the acquisition of Lighthouse Insurance Agency in Madisonville, Louisiana, on March 1, adding personal and commercial lines capabilities for clients in the Gulf region.
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