The Clear Group has expanded its managing normal brokers (MGA) capabilities by buying One Business Specialty.
The acquired agency supplies varied trade stakeholders with skilled indemnity and administrators’ and officers’ legal responsibility insurance coverage options.
The brand new deal marks The Clear Group’s forty second acquisition since its inception in 2001 and the second MGA deal thus far.
It’s consistent with the corporate’s technique to create a serious participant within the MGA sector.
The deal permits One Business Specialty’s MGA crew to work with The Clear Group’s retail-broking enterprise.
One Business Specialty’s administrators Dan Mitchell and James Russell will stay with the corporate to guide the enterprise.
Monetary phrases of the deal weren’t disclosed.
The Clear Group CEO Mike Edgeley mentioned: “We’re delighted to welcome One Business Specialty, which is able to play an integral half in constructing our MGA proposition and assist ship higher buyer outcomes throughout specialist strains of enterprise.
“Dan and James have constructed an excellent enterprise and we look ahead to pulling collectively our totally different strengths to offer a broader and enhanced proposition to brokers.”
Earlier this month, The Clear Group introduced the buy of a 50% stake in its first MGA, Thomond Underwriting.
Based in 2007, Thomond Underwriting relies in Eire and Northern Eire.
Mitchell and Russell mentioned: “The funding which the Clear Group has made in our enterprise will make a major distinction to our brokers and their shoppers.
“CLEAR is a superb cultural match and supplies a stronger base for our enterprise, and we look ahead to working with the Clear crew to ship an much more compelling proposition to our dealer companions.”
