Worldwide Facilities LLC, a national wholesale insurance broker, managing general agent and program underwriter, has acquired Royal Oak Underwriters Inc., an excess and surplus lines insurance wholesaler based in Richmond, Va. The acquisition marks an expansion of Worldwide Facilities’ nationwide footprint and increases the wholesaler’s already diverse offerings.
Royal Oak Underwriters provides a variety of specialty products designed to meet the needs of retail agents in Virginia, Maryland, Washington D.C., Pennsylvania, North Carolina and Tennessee. The company specializes in property, general liability, professional liability, commercial auto, ocean and inland marine, and personal lines.
Marsh, Berry & Company Inc. served as a financial advisor to Worldwide Facilities in this transaction. Tom Rogan of TBR Consultants Inc. served as an advisor to Royal Oak.
Source: Worldwide Facilities LLC
Was this article valuable?
Here are more articles you may enjoy.
‘Great Resignation’ Enters Third Year as Workers Embrace AI, Upskilling, PwC Says 
Ford Recalls 668,000 2014 F-150 Pickup Trucks Over Transmission Issue 
A $29 Billion Weed Market Fights to Diversify Amid Legal Hurdles 
As Rates Rise, Majority of Homeowners Say Insurance Industry Is in Crisis: Survey 
