Worldwide Facilities acquires surplus lines MGA Clearwater Underwriters
Worldwide Facilities, a US insurance broker, has acquired Clearwater Underwriters, a surplus lines managing general agent (MGA) based in Clearwater, Florida, for an undisclosed price.
Founded in 1991, Clearwater Underwriters is said to offer a market for retail agents in the placement of surplus flood coverage across Florida. The company is claimed to have a diverse product range that includes flood, personal and commercial lines, and professional liability.
Don Waters Jr. – President of Clearwater Underwriters said: “We are extremely pleased to be joining the Worldwide Facilities team, and look forward to expanding our capabilities while continuing to provide a broad range of services and benefits to our affiliates.”
Headquartered in California, Worldwide Facilities apart from being a national wholesale insurance broker, is also a managing general agent and program underwriter that has been operating since 40 years.
Davis Moore – CEO of Worldwide Facilities said: “We are delighted to have the Clearwater team join Worldwide Facilities. They have been building a successful underwriting business for nearly 30 years and we are excited to continue this growth while increasing Worldwide Facilities’ broad offering of specialty programs.”
For Worldwide Facilities, the financial advisor for the transaction was Marsh, Berry & Company, while PhiloSmith & Company was the advisor to Clearwater Underwriters.