World Insurance Associates has acquired Lock Insurance of Lakeland, Florida, in a deal completed on Feb. 1, 2026.
The deal supports World Insurance as it continues to build its presence across one of the most closely watched insurance markets in the US. Lock Insurance, founded in 2004, provides personal and commercial insurance to clients throughout Florida.
Terms of the transaction were not disclosed.
Don Westerfeld, president of Lock Insurance, said the deal would allow the firm to offer clients a broader range of products while maintaining its existing service model.
"Each member of Lock Insurance is a team player, serving a crucial role in our commitment to excellence and our reputation for superior customer service," he said. "We provide our clients with the best insurance at the lowest prices possible. As part of World, we will continue to do so, but with more products and services."
Rich Eknoian, executive chairman and founder of World, welcomed the addition. "This acquisition further expands World's presence in Florida. Don and his team are focused on providing excellent customer service to their clients, and I know they will be a great addition to World."
Giordano, Halleran & Ciesla provided legal counsel to World on the transaction. Connell Foley LLP acted for Lock Insurance.
The Lock deal is the latest move in a long-running and well-resourced acquisition program. World has completed more than 111 acquisitions since its founding in 2011, with peak activity in 2021 when it closed 39 deals.
The pace has continued into 2025 and 2026, with recent transactions spanning Florida, New Jersey, New York and Arizona. The brokerage carries a total enterprise valuation of approximately $3.4 billion, backed by Goldman Sachs Asset Management and Charlesbank Capital Partners.
Goldman Sachs has committed more than $1 billion across equity and subordinated debt financing to support World's continued deal-making.
Speaking at the end of 2024, Eknoian described the year ahead as potentially record-breaking for deal volume, noting that the M&A landscape was "more competitive now than at any point in our history" and that World had embraced AI and automation to streamline integration and improve margins across its now substantial operational base.
Florida has endured one of the most turbulent periods in its insurance history, with a succession of catastrophic hurricane seasons, widespread insurer exits and a litigation crisis that pushed the market close to dysfunction.
Legislative reforms introduced in 2022 and 2023 have begun to take hold. Florida's property insurers are expected to report strong underwriting results for 2025 following a year without US hurricane landfalls, with litigation filings declining significantly and the state recording its lowest personal auto liability loss ratio in 15 years.
The improved conditions have attracted 20 new property and casualty insurers with more than $850 million in new capital into the state, expanding the product options available to Florida brokers and their clients. Several major carriers, including State Farm, have filed for rate reductions for 2026, with proposals ranging from 8% to 11%.
For World, deepening its Florida presence at a moment of cautious market recovery, while retaining locally embedded teams with established client relationships, reflects the model that has driven its national growth.
