World Insurance Associates LLC has recently acquired Owens Insurance Agency Inc. and Stokes-Farnham Insurance Agency Inc., both based in Greer, South Carolina. The acquisition, which was finalized on April 1, 2024, marks another significant step in the company’s expansion strategy. While the terms of the deal were not disclosed, the move strengthens World Insurance Associates’ presence in the region.
Owens Insurance, founded in 1952, and Stokes-Farnham Insurance, established in 1954, both offer a range of insurance services including personal and commercial insurance, home, auto, life, and business coverage. According to Rich Eknoian, CEO and co-founder of World Insurance Associates, “The combined history and experience of these two agencies make them a strong addition to World.”
World Insurance Associates, headquartered in Iselin, New Jersey, provides insurance, employee benefits, and risk management services across the United States. Since its founding in 2011, the company has completed over 200 acquisitions and is ranked among the 50 largest insurance brokerages in the country.
In addition to the South Carolina acquisitions, World Insurance Associates has also expanded its footprint in other regions. Earlier this year, the company acquired the business of Christopher Williams Agency and Barrett Millard LLC in Pittsford and the greater Rochester area of New York, with the deal closing on January 1, 2025. The Christopher Williams Agency, founded in 1961, had previously acquired Barrett Millard in 2023 and continues to serve clients under its name.
Other recent acquisitions by World Insurance Associates include Archambault Insurance Associates, effective December 1, 2024, and NorthStar Insurance Services, one of the largest agencies in New England. Archambault Insurance, founded in 1928, is a third-generation family-owned business offering personal, commercial, life and health, and surety insurance in Connecticut, Rhode Island, and Massachusetts.
Eknoian expressed optimism about the company’s future prospects, stating that World is preparing for its “best year yet” with an active pipeline of mergers and acquisitions and growth across its retail, wholesale, and wealth management segments. He expects the momentum in M&A activities to continue in 2025, following a slower first half of 2024.
