World Insurance Associates LLC ,a Top 50 Insurance Brokerage, announced that it acquired the business of Royalty Insurance Services (“Royalty”) of Van Nuys, CA on January 1, 2025. Terms of the transaction were not disclosed.
Royalty has been providing commercial trucking insurance for over 23 years. They offer specialized insurance solutions for trucking businesses—from long-haul to local trucking.
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“At Royalty Insurance Services, personalization is key,” says Oganes Sepuhyan, President, Royalty Insurance Services. “We realize insurance is more than a line-item expense—it is a vital part of our customers’ business safety net, so we work with them to customize a plan that meets their unique insurance needs. We are excited to join World, who has its roots in the trucking industry, and we look forward to continuing to grow our business.”
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“I would like to welcome Royalty to the World family,” says Rich Eknoian, CEO and Co-Founder of World. “They are well known in the trucking industry, and they have an experienced team of insurance professionals dedicated to providing their customers with the best coverage at the best price. I know they will continue to be successful as part of World.”
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Giordano, Halleran & Ciesla provided legal counsel and MarshBerry advised World on the transaction. Fennemore Law provided legal counsel to Royalty on the transaction. No other advisors, diligence firms, or legal counsel were disclosed.
About World Insurance Associates LLC
World Insurance Associates (World) is a nationally ranked financial services organization headquartered in Iselin, N.J., that serves its clients from more than 300 offices across the U.S. and U.K. World’s comprehensive network of brokers and specialists empower people to make informed decisions to improve their risk management outcomes, modernize their benefits programs, and help achieve their long-term financial goals. Using data-driven analytics, World’s advisors innovate new products and solutions tailored to clients’ needs across commercial and personal insurance and bonds, employee and executive benefits, wealth management and retirement plan services, private client services, and payroll & HR solutions.
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Source – PR Newswire
