Insurance brokerage, World Insurance Associates, has announced the acquisition of Exchange Underwriters, Inc., based in Washington County, Pennsylvania.
Founded in 1955, Exchange Underwriters was started by Blair C. Ferguson providing personal and commercial lines insurance exclusively in the Washington County area.
Richard Boyer, the current President, assumed ownership in 1992 and the agency expanded into the Tri-State Area and throughout the entire United States.
In 2014 Community Bank purchased the company, which enabled the agency to broaden its marketing efforts and provide a platform for future growth. In 2018 the agency relocated to Washington, PA and merged with Beynon Insurance Agency.
“We are excited about the opportunity to join World Insurance,” says Richard Boyer, President, Exchange Underwriters. “We are committed to providing our clients with the highest level of service and attention, with the same dedicated team of local professionals. As part of World, we can offer our customers additional products and services.”
Giordano, Halleran & Ciesla provided legal counsel and MarshBerry advised World on the transaction.
Luse Gorman and Knox McLaughlin Gornall & Sennett provided legal counsel and Dowling Hales advised Exchange Underwriters.
Rich Eknoian, CEO and Co-Founder of World: “On behalf of the World family, I would like to welcome Exchange Underwriters. They have an excellent reputation of providing their clients with exceptional service, and I know they will continue to be successful as part of World.”
Founded in 2011, World is an US full-service insurance organisation providing individuals and businesses with personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions.
