World Insurance Associates has appointed John Newell (pictured) as chief executive officer, succeeding founder and long-time CEO Rich Eknoian.
Eknoian, who launched the company in 2011, will move into the role of executive chairman and remain closely involved in strategic growth initiatives and engagement with employees, clients and investors.
Since founding the business, Eknoian has overseen World's expansion from a startup into a diversified brokerage generating more than $700 million in revenue. The firm has pursued a buy-and-build strategy across commercial and personal lines and employee benefits, completing dozens of acquisitions in recent years.
That trajectory attracted private equity backing. Charlesbank Capital Partners first invested in World in 2020, and in 2023, Goldman Sachs Asset Management committed more than $1 billion of equity and debt alongside Charlesbank, valuing the firm at about $3.4 billion of enterprise value. The two investors now act as co-lead equity sponsors for World's next phase of growth.
Newell joins World with more than two decades of experience in insurance distribution.
Most recently, he served as chief commercial officer at Newfront, a technology-enabled specialty brokerage, where he oversaw all business units across insurance, benefits and retirement services. His remit included expanding Newfront into new industry verticals and geographies and pushing the use of AI and automation in service delivery.
Earlier in his career, Newell held a series of roles at Marsh focused on strategy and growth. He ultimately became head of the Central US region and a member of Marsh’s US executive committee, overseeing a business generating more than $500 million in revenue and employing around 2,000 people across 19 offices.
At World, Newell is expected to draw on that mix of large-broker and technology experience. The firm said he will focus on investing in senior talent, deepening vertical expertise and accelerating AI enablement across the organization.
Eknoian framed the leadership change as the logical next step for a brokerage that has scaled rapidly over the past decade.
“When I founded World in 2011, I set out to build the kind of brokerage I would have wanted to work for – one that puts clients first, treats its people as partners and grows with discipline and integrity,” he said. “I’m proud of what this team has built together, and I have great confidence in John’s ability to lead World into this next chapter. He understands the brokerage model at its core, he knows how to scale a complex organization and he shares the values that have made World who we are today.”
As executive chairman, Eknoian will provide strategic counsel, support the firm’s acquisition program and remain a visible presence in shaping World’s culture.
Newell said World’s recent growth record and national footprint were key attractions.
“World’s pace of growth and track record of innovation have been exceptional, and the opportunity ahead is even greater,” he said. “Rich has built something rare – a firm with true national scale that still delivers a highly personalized client experience. Our focus now is to accelerate organic growth, deepen industry expertise and deploy technology to better equip our colleagues to deliver more for clients and enhance the experience with our carrier partners.”
World’s private equity partners have publicly endorsed the transition.
Anthony Arnold, partner at Goldman Sachs Asset Management, said Newell has “spent his career leading and growing client-centric brokerage businesses” and that his experience “is perfectly aligned with World’s roadmap for the future.”
David Katz, managing director at Charlesbank, called Eknoian “one of the most accomplished founders in insurance distribution” and said the combination of Newell as CEO and Eknoian as executive chairman leaves the firm “well positioned to capitalize on the market opportunities ahead.”
The appointment underscores several trends in the US brokerage sector. Private equity-backed platforms remain the dominant buyers of agencies and specialty firms, and as these businesses mature, many are moving from founder-led models to leadership teams drawn from global brokers and technology-enabled competitors.
At the same time, moderating M&A volumes and a thinner pool of sizeable independent targets mean firms such as World are likely to lean more heavily on organic growth, vertical specialization and technology-driven productivity to meet investor expectations.
