PARSIPPANY — World Insurance Associates has acquired the business of Pellechio Family Agency, a Parsippany-based insurance agency located at 601 Jefferson Road, effective May 1. Terms of the transaction were not disclosed.
Pellechio Family Agency has provided commercial and personal insurance to customers since 2017.
“At Pellechio Family Agency, we have the knowledge and expertise to help our customers understand their coverage options and offer solutions to meet their insurance needs,” said Robert Pellechio, client advisor at Pellechio Family Agency. “As part of World, we can offer additional products and services to our customers.”
Rich Eknoian, executive chairman and founder of World Insurance Associates, welcomed the agency to the company.
“Pellechio has roots in our home state of New Jersey, and it’s great to have them join our team,” Eknoian said.
Giordano, Halleran and Ciesla provided legal counsel to World on the transaction, while Castano Quigley Cherami represented Pellechio.
World Insurance Associates, based in Iselin, New Jersey, is ranked 14th on Insurance Journal’s Top 100 Independent Property/Casualty Insurance Agencies list. The company operates more than 250 offices across the United States and United Kingdom.
