World Insurance Acquires Trucking Broker: Industry Update

TL/DR –

World Insurance Associates LLC has acquired the business of Oakwood Insurance Agency LLC, which operates as Insure Big Rig, on October 1, 2023. The terms of the transaction were not disclosed. Oakwood Insurance Agency, based in Califon, New Jersey, has provided trucking insurance through its transportation division, Insure Big Rig LLC, since 2011.

World Insurance Acquires Oakwood Insurance Agency

Industry leading broker, World Insurance Associates LLC, announced on October 11, 2023, they have acquired Oakwood Insurance Agency LLC, also known as Insure Big Rig. Financial details of the deal were not disclosed.

Insure Big Rig, a renowned provider of trucking insurance since 2011, is based in Califon, New Jersey. All eight employees of the firm have joined World Insurance following the acquisition.

As per the most recent rankings in Business Insurance, World Insurance, headquartered in Iselin, New Jersey, is listed as the 28th-largest broker of the U.S. business.

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