World Insurance Associates has acquired Archambault Insurance Associates, effective December 1, 2024. The financial terms of the transaction remain undisclosed.
Archambault Insurance, a third-generation, family-owned agency founded in 1928 by Joseph A. Archambault, provides insurance services to individuals, families, and businesses in Connecticut, Rhode Island, and Massachusetts. The agency offers a range of insurance products, including personal, commercial, life and health coverage, as well as surety bonds.
“I would like to welcome Archambault to the World family,” said Rich Eknoian, CEO and co-founder of World Insurance. “This acquisition adds to World’s presence in Connecticut.”
Legal counsel for World Insurance was provided by Giordano, Halleran & Ciesla, with MidCap Consulting advising on the transaction. Satin & Lee Law P.C. provided legal counsel for Archambault, and Sica Fletcher acted as an advisor.
In an interview with Insurance Business in December 2024, Eknoian expressed optimism for 2025, anticipating a “record-breaking year” for the company in terms of deal volume and overall activity. He indicated that the company’s pipeline suggests a potential return to pre-2024 levels of deal-making.
Earlier in the year, World Insurance announced the acquisition of HML Brokerage LLC, specializing in property and casualty insurance, and Stern Insurance Group, which focuses on employee benefits and risk management. These acquisitions followed the purchase of Sprague Israel Giles, a firm specializing in niche programs, and NorthStar Insurance Services in Massachusetts. Eknoian noted that the NorthStar acquisition not only expanded their reach but also served as a platform for further “bolt-on” acquisitions in the region.
“We don’t just acquire businesses; we integrate them thoroughly,” Eknoian explained. “We work closely with new partners to standardize workflows, unify platforms and centralize services such as claims and loss control.”
