Worldwide Facilities Acquires Draco Insurance Solutions
Expands presence in the MGA and Transportation market with fifth 2018 acquisition
LOS ANGELES, CA — WORLDWIDE FACILITIES, LLC a national wholesale insurance broker, managing general agent and program underwriter, is pleased to announce that it has acquired the assets of DRACO INSURANCE SOLUTIONS, INC. (“Draco”), a Boston-based program manager, specializing in the public transportation sector.
Commenting on the transaction, Davis Moore, CEO of Worldwide Facilities, says, “We are extremely pleased to have Scott Stevens and his team join the Worldwide Facilities enterprise. The Draco team, led by Scott, has demonstrated underwriting expertise in the primary transportation space with particular emphasis on the public auto sector. The expansion of our transportation and program underwriting capabilities are part of our strategic growth strategy and will contribute to our relevance with our customers.”
Scott Stevens, Executive Vice President of Draco, says, “We are pleased to be part of the Worldwide Facilities team and look forward to accelerating the continued growth of our business with the resources, market relationships and customer relationships of the Worldwide Facilities platform.”