Worldwide Facilities, LLC, a national wholesale insurance broker, managing general agent and program underwriter, is pleased to announce the acquisition of Royal Oak Underwriters, Inc. (Royal Oak), 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 wide variety of specialty products designed to meet the needs of retail agents in Virginia, Maryland, Washington DC, Pennsylvania, North Carolina, and Tennessee. The company specializes in property, general liability, professional liability, commercial auto, ocean & inland marine, and personal lines.
Commenting on the transaction, Davis Moore, CEO of Worldwide Facilities, said, “We are extremely pleased to have Patti and her team join Worldwide Facilities. Patti has built a great business and we are energized by the opportunity to interchange product and distribution in a geography that is complimentary to Worldwide Facilities’ existing footprint.”
Patti Nunnally, CEO of Royal Oak, commented, “This transaction is a natural evolution for Royal Oak that will benefit our employees, markets and customers. We are enthused with the opportunity to accelerate the growth of our business as part of Worldwide Facilities.”
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.
About Worldwide Facilities
Worldwide Facilities is a national wholesale insurance broker, managing general agent and program underwriter that has been in business since 1970. Its brokers and underwriters are industry leaders providing expertise in a wide range of specialty lines, as well as extensive contacts with carriers domestically and overseas. For more information, please visit wwfi.com.