Los Angeles-based Worldwide Facilities LLC is acquiring the assets of Santa Rosa, Calif.-based RIC Insurance General Inc., a wholesale insurance broker and managing general agent.
RIC Insurance offers admitted and nonadmitted property and casualty products and specializes in small to medium-sized commercial business as well as personal lines business. The insurance broker will continue to maintain its client and market relationships and commitments as a division of Worldwide Facilities.
Private investment banking company PhiloSmith advised RIC Insurance on the transaction.
