US-based World Insurance Associates has snapped up Two Rivers Insurance Company (TRIC) and True & Associates, in two separate deals.

The American insurance brokerage did not reveal the financial terms of both the acquisitions.

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Two Rivers Insurance, which based in Iowa, includes Two Rivers Insurance Services (TRIS) and Employee Benefits Systems (EBS). It has been acquired from Two Rivers Financial Group.

Two Rivers Insurance offers personal and business insurance services across Eastern Iowa.

Even after the acquisition, the company will continue to be based in Burlington and will offer insurance products from its offices in Ft. Madison, Earlham, and West Des Moines.

Two Rivers Insurance’s president and CEO Todd Ackerman will continue in his position.

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Ackerman commented: “TRIC is committed to providing responsive and innovative solutions to our clients’ insurance and risk management needs. To this end, our entire staff is dedicated to integrity, professionalism and unparalleled service every day.”

World Insurance Associates’ second acquisition True & Associates is based in New Jersey.

It was founded in 1984 by Thomas True. The multi-line full-service property casualty agency offers commercial and personal lines products.

It specialises in catering to the construction industry with ‘cost-effective’ risk management solutions for minimising the exposure of its clients.

World Insurance Associates CEO and co-founder Rich Eknoian said: “True & Associates has won the trust and support of top trade associations based on their unique and differentiated service platform and unmatched knowledge. Thomas True and his team add meaningful depth to our already deep surety operations, bond capabilities, and our general presence in the tri-state area.”