Wholesale broker Worldwide Facilities LLC said Tuesday it has acquired Clearwater, Florida-based Clearwater Underwriters Inc., a surplus lines managing general agent.
Terms of the acquisition are confidential, according to a Worldwide spokeswoman.
Clearwater was established in 1991 to provide a market for retail agents in the placement of excess flood coverage in Florida, according to Worldwide’s statement.
Since then, it has offered a diverse product line that includes flood, professional liability, personal and commercial lines.
Los Angeles-based Worldwide Facilities is the fifth-largest wholesaler, according to Business Insurance’s latest ranking, with $1.54 billion in 2018 premium volume.
