Worldwide Facilities has acquired Tennant Risk Services Insurance Agency LLC.
Worldwide Facilities is a Los Angeles, Calif.-headquartered, national wholesale insurance brokerage and managing general agency. Tennant Risk Services Insurance Agency is a West Hartford, Conn.-based wholesale insurance broker and underwriting manager specializing in the placement of professional liability and specialty insurance coverages.
Tennant offers its products and services across the U.S. through retail agents and brokers. Tennant CEO Robert Sargent joins Worldwide Facilities as executive vice president following the transaction, where he will continue to manage and lead his team as well as assume a company leadership role as part of Worldwide Facilities’ senior management team.
This transaction represents an expansion of Worldwide Facilities’ footprint in the professional liability space, where Tennant has expertise and products in the E&O, D&O, EPLI and cyber lines of business. It broadens the markets and products available to the retail brokers and agents served by Worldwide Facilities as well as the underwriting opportunities for Worldwide Facilities’ markets, according to a Worldwide Facilities press release announcing the transaction.
Source: Worldwide Facilities LLC
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