World Insurance Associates (WIA) has wrapped up the acquisition of Virginia Insurance Partners (VIP) to expand its footprint in the US state of Virginia.

The financial detail of the acquisition, which is effective from 1 February 2020, have not been made public.

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Virginia Insurance is an independent insurance agency that offers commercial, personal, farm, life, and benefits policies to its clients throughout the region.

It will continue to operate from Stuarts Draft, Shenandoah, and Amelia in the state of Virginia, WIA state in its press statement.

Virginia Insurance Partners president Charles Schuelke said: “Becoming a division of World Insurance Associates will allow us to provide even more options for our clients so we can best match the right policy with the appropriate coverage for every customer.

“We look forward to working with the World Insurance team and growing together for years to come.”

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The latest acquisition of Virginia Insurance marks the 53rd acquisition for World Insurance.

World Insurance Associates CEO and co-founder Rich Eknoian said, “Virginia Insurance Partners is a natural fit for us as we continue to expand in the region. We are excited for the team at VIP to join our growing World family.”

Recently, World Insurance acquired New Jersey-based Lewis-Chester Associates for an undisclosed sum.

Earlier this month, WIA received a majority investment from Charlesbank to accelerate its expansion programme.

Founded in 2012 and headquartered in Tinton Falls, New Jersey, World Insurance operates in 40 offices in 11 US states.