US-based insurance agency World Insurance Associates (WIA) has acquired Lewis-Chester Associates, which is based in Summit, New Jersey.

The financial terms of the transaction have not been made public.

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Founded in 1947, Lewis-Chester is a full service, an independent insurance agency that provides insurance, benefits, and financial services to its clients.

Lewis-Chester insures commercial real estate marketplace in the New York-metropolitan.

It has developed an affordable multi-family and independent living senior apartment umbrella programme for the same.

Since its inception, it has served contractors, real estate developers, manufacturers, business owners and entrepreneurs, non-profit organizations, and individuals and families, among others.

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Lewis-Chester Associates president Bill Frankel said: “Throughout the years we have helped our clients grow and have grown along with them, and merging with World Insurance Associates will allow us to continue to do so on a larger scale with more resources.”

Founded in 2012 and headquartered in New Jersey, WIA is a full-service insurance brokerage offering risk management, insurance, and benefit consulting services to individuals and businesses.

WIA serves its customers through its 40 offices across 11 US states and it has completed 53 acquisitions so far.

WIA co-founder and CEO Rich Eknoian said: “Bill Frankel and the team at Lewis-Chester Associates have built a solid reputation on their ability to build and maintain their clients’ confidence and trust, and we welcome that level of expertise and service to our organization.”

Recently, WIA received a majority investment from Charlesbank to accelerate its expansion programme.