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December 8, 2020

N.J. insurance brokerage acquires W. Hartford’s Watts Group

The Watts Group is located at 65 LaSalle Road in West Hartford.

An acquisitive New Jersey-based brokerage has added a Greater Hartford insurance agency to its growing Connecticut footprint.

World Insurance Associates, headquartered in Tinton Falls, announced Monday that it has acquired The Watts Group, a West Hartford surety bond and property-casualty insurance agency founded by Mike Watts in 2003, for an undisclosed price.

“The Watts Group is an excellent complement to our current surety bonds business,” Rich Eknoian, WIA’s CEO and co-founder, said in a statement . “Mike and the rest of the leadership team are well known in the industry as subject matter experts in the surety space. We are excited to welcome them to our team.”

WIA has acquired several Connecticut agencies since 2017, including Rocky Hill’s Bruen Deldin DiDio Associates, Chester’s Agency Insurance, Greenwich’s Lampe-Batkin Associates and Prospect’s Martin & Rowland Insurance.

In all, WIA says it has completed 85 acquisitions since it was founded eight years ago, growing to 71 offices in 16 states.

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