World Insurance makes California trucking buy

World Insurance Associates LLC Friday said it acquired Royalty Insurance Services Inc. of Van Nuys, California.

Terms of the transaction, which was completed in January, were not disclosed.

Royalty specializes in providing commercial trucking insurance, World said in a statement.

The broker has 24 employees, according to an email from a spokeswoman.

World Insurance, headquartered in Iselin, New Jersey, is the 27th-largest broker of U.S. business, according to the most recent Business Insurance rankings.