World Insurance buys New England broker

Acquisitive brokerage World Insurance Associates LLC said Thursday it has bought Exeter, New Hampshire-based Foy Insurance Group.

Terms were not disclosed.

Foy has 77 staff in nine offices in New Hampshire, Maine and Massachusetts. It places commercial and personal lines insurance and offers specialty programs for sports insurance, equine insurance and coverage for gymnastics organizations.

Iselin, New Jersey-based World Insurance is the 28th largest brokerage of U.S. business, according to Business Insurance’s most recent ranking. In August, it raised $1 billion in debt and equity for acquisitions and organic growth initiatives.