World Insurance Associates LLC has expanded its reach by acquiring Abacus Insurance and Financial Services, a Texas-based company known for its focus on commercial insurance. The deal, which was finalized on April 1, 2025, brings Abacus’ expertise and client base under World Insurance’s umbrella. The financial terms of the acquisition were not made public.
Abacus Insurance, founded in 2016 in Irving, Texas, serves mainly businesses, offering commercial lines insurance with some personal coverage as well. They have a reputation for working closely with hotels, motels, and convenience stores, carving out a specialty in these sectors. The company was started by Rafiq Hassan, Abid Hassan, and Shahira “Saira” Somani. More recently, Ankit Patel joined as a partner in 2024.
Legal help for this deal came from well-known firms on both sides. Giordano, Halleran & Ciesla represented World Insurance, while Connell Foley LLP advised Abacus. MarshBerry offered additional guidance to World Insurance during the transaction.
This acquisition is a part of World Insurance’s efforts to grow its business and strengthen its position in the Texas commercial insurance market. It also broadens their client offerings, tapping into Abacus’ established niche. As the insurance industry continues to evolve, moves like this help companies stay competitive and ready for future challenges.