Financial terms of the transaction were not disclosed. Credit: Suri_Studio/Shutterstock.

World Insurance Associates has taken over the business of HML Brokerage, a Brooklyn, New York-based insurance provider.  

Financial details of the transaction were not shared.  

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HML is known for its property and casualty (P&C) insurance services, with an emphasis on the commercial and construction sectors. 

In addition to construction, the company has been offering insurance coverage for business and healthcare.  

Giordano, Halleran & Ciesla offered legal advice to World for this deal, while Schwell Wimpfheimer & Associates was legal counsel to HML.  

Sica Fletcher and Helfer & Associates provided advisory services to World and HML, respectively.  

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HML unit leader Herman Lefkowitz said: “We provide our clients with coverage that focuses on their unique business needs, so they can focus on their business success. Our well-trained team of insurance professionals have extensive knowledge and provide exceptional customer service. We are pleased to be joining World, a company that shares this approach.” 

World co-founder and CEO Rich Eknoian added: “On behalf of the World family, I would like to welcome HML. I know they will continue to be successful as part of the World team.” 

This follows World’s recent purchase of Business Contractors Insurance Services, a California-based company specialising in a range of services including home, auto, contractor and business insurance.  

Based in Iselin, New Jersey, World was established in 2011 and has since grown to operate more than 250 offices throughout the US. 

It offers various services including personal and commercial insurance, employee benefits, retirement planning, financial planning and human capital management solutions.