Katz/Pierz Joins World Insurance Associates LLC
Iselin, NJ, March 01, 2023 (GLOBE NEWSWIRE) -- World Insurance Associates LLC ("World"), a Top 50 Insurance Brokerage, announced today that it acquired the business of Katz/Pierz of Cherry Hill, NJ on December 1, 2022. Terms of the transaction were not disclosed.
Katz/Pierz was founded in 1987 by Aaron Katz and Donald Pierz to help professionals and business owners with their personal insurance needs, focusing on income replacement, estate liquidity and business succession planning. Lenny Katz, Aaron's son, joined six months later. He is now the president and one of the company's three Principals. Responding to requests from clients for assistance with their employee benefit programs, Lenny Katz expanded Katz/Pierz's practice into the employee benefits world. The Katz/Pierz team and expertise grew quickly--Principal Joe Sulpizio joined Katz/Pierz in 1996, and Principal Shay Cowan joined in 2004.
"As a second-generation, family-run company, Katz/Pierz has always been driven by our relationships with our clients," says Lenny Katz, President, Katz/Pierz. "We aim not just to be a broker, but a true partner. Several of our clients have been with Katz/Pierz since our first day of business. That is because Katz/Pierz knows that innovative financial solutions on their own are not enough to fully support our clients; we've built a comprehensive, customer first service model to meet our clients' needs. We look forward to continuing our approach as part of World."
"I'd like to welcome Katz/Pierz to the World family," says Rich Eknoian, CEO and Co-Founder of World. "They are seasoned professionals—having helped employers design, implement and manage unique benefit programs for over 35 years, and they are a great addition to our Employee Benefits team."
"We are thrilled to have Katz/Pierz join our World Employee Benefits team. Their expertise and knowledge in the middle market and captive space will further strengthen our company and help us all continue to grow and achieve our goal," says Jennifer Barton, Head of Employee Benefits.
Giordano, Halleran & Ciesla provided legal counsel to World, and MarshBerry advised them on the transaction. Lauletta Birnbaum, LLC provided legal counsel to Katz/Pierz, and Rosen Advisory advised them on the transaction. No other advisors, diligence or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates LLC (World) is headquartered in Iselin, N.J., and is a nationally ranked, full-service insurance organization providing individuals and businesses with top products and services across personal and commercial insurance, employee and executive benefits, retirement and financial services and human capital management solutions. Since its founding in 2011, World has completed over 180 acquisitions and serves its customers from more than 250 offices across the United States. World is ranked #34 on the 100 Largest Brokers of U.S. Business list by Business Insurance, ranked #3 on the Fastest Growing Brokers list by Business Insurance, ranked #3 on the Fastest Growing Benefits Brokers list by Business Insurance, ranked #24 on the Top 100 P&C Agencies by Insurance Journal, and ranked #20 on the Top 50 Personal Lines Agencies by Insurance Journal. For more information, please visit www.worldinsurance.com.
Jean Wiskowski, Chief Marketing Officer World Insurance Associates LLC 732-380-0900 Ext. 736 jeanwiskowski@worldinsurance.com Bradley Unger, Senior Vice President, Business Development World Insurance Associates LLC 732-712-2230 Ext. 186 bradleyunger@worldinsurance.com
