National wholesale insurance broker, managing general agent, and program underwriter Worldwide Facilities has acquired Royal Oak Underwriters in Richmond, VA.
Royal Oak is an excess and surplus lines insurance wholesaler that offers a range of specialty products to retail agents in Virginia, Maryland, Washington DC, Pennsylvania, North Carolina, and Tennessee. Led by CEO Patti Nunnally, the firm specializes in property, general liability, professional liability, commercial auto, ocean & inland marine, and personal lines.
Worldwide Facilities said in a statement that the acquisition of Royal Oak expands its nationwide footprint and offerings.
“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,” said Worldwide Facilities CEO Davis Moore.
“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,” added Royal Oak CEO Patti Nunnally.