Worldwide Facilities Expands Programs Division; Acquires Clearwater Underwriters, Inc.
LOS ANGELES, Aug. 4, 2020 /PRNewswire/ -- Worldwide Facilities, LLC, a national wholesale insurance broker, managing general agent and program underwriter, is pleased to announce the acquisition of Clearwater Underwriters, Inc., a surplus lines MGA based in Clearwater, FL.
Clearwater Underwriters was established in 1991 to provide a market for retail agents in the placement of excess flood coverage in the state of Florida. Since that time, the company has emerged as a competitive, trustworthy corporation with a diverse product line including flood, professional liability, personal and commercial lines.
Commenting on the transaction, 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."
Guy Waters, Senior Vice President of Clearwater Underwriters, commented, "This procurement is a natural next step for Clearwater and will be advantageous to our customer base, markets and employees. We look ahead to this great opportunity to join the Worldwide Facilities family and add to their already robust and successful business model."
Don Waters Jr., President of Clearwater Underwriters, added, "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."
Marsh, Berry & Company, Inc. served as a financial advisor to Worldwide Facilities in this transaction.
PhiloSmith & Company served as an advisor to Clearwater Underwriters, Inc.
Clearwater Underwriters, Inc.
Clearwater Underwriters, Inc. was established in Clearwater, FL in 1991 and offers a diverse product line including flood, professional liability, personal and commercial lines.
About Worldwide Facilities
Worldwide Facilities is a national wholesale insurance broker, managing general agent and program underwriter that has been in business since 1970. Its brokers and underwriters are industry leaders providing expertise in a wide range of specialty lines, as well as extensive contacts with carriers domestically and overseas. For more information, please visit wwfi.com.
Media Contact: Erika Guerra, [email protected], Direct: 213-236-4509
CA Lic # 0414108
SOURCE Worldwide Facilities, LLC
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