Some impressive results from Clear Group, here’s the word;
Clear Group announces its financial results for the year ended 31 October 2025, delivering strong financial and operational performance driven by continued execution of its long-term growth strategy, with revenue increasing by 44% and organic growth of 8.8%.
The Group continued to build out its diversified insurance distribution platform during the year, combining retail broking with specialist wholesale and underwriting capabilities across five commercial pillars: UK Retail, MGA, Ireland, London Markets and Brokerbility.
Despite a widely reported quieter year for acquisitions across the market, Clear delivered another year of strong overall progress. This performance reflected resilient organic growth in a more challenging trading environment, complemented by disciplined acquisitions, operational efficiency initiatives, and continued investment in specialist capabilities, technology and talent.
The business continued to strengthen its position as a leading independent insurance distribution intermediary, expanding its specialist expertise, deepening insurer relationships and enhancing its client proposition across the UK and Ireland.
Financial Highlights (year ended 31 October 2025):
Adjusted EBITDA for the Group increased by 67% on a reported basis, while revenue grew by 44%, supported by strong organic growth across the Group’s diversified platform and contributions from recent acquisitions.
2025 2024
Revenue £134.0m £93.0m
Adjusted EBITDA £46.2m £27.7m
EBITDA Margin 34.0% 31.3%
Gross Written Premium £819.3m £728.0m
Pillar Highlights
· UK Retail. Clear’s proven track record of growing and working intelligently with vendors to integrate into a coherent high performing business has enabled the Group to continue to invest in operational efficiency, technology and client service across its retail platform. This includes the establishment of four SME Centres of Excellence to
improve the client journey and standardise processes, delivering efficiency improvements of approximately 40% within certain renewal activities. The Group also continues to invest in technology infrastructure and digital capabilities, and deploy its artificial intelligence strategy focused on workflow support, data analysis and proprietary risk assessment capabilities to enhance our customer facing service solutions, and to support scalable long-term growth
· MGA. The MGA pillar delivered another strong year of performance, with adjusted EBITDA increasing by 33% year on year, supported by continued investment in specialist underwriting capabilities and insurer partnerships. During the year, Profile Risk Solutions and OCS were successfully rebranded under the Shape Underwriting platform to strengthen market identity and support future growth, with further brand alignment planned for 2026. The acquisition of Protect Underwriting also strengthened the platform, adding £11m GWP in Lloyd’s underwritten high net worth specialty business.
· London Markets. FY25 marked the first full year of operation for the London Markets pillar following the acquisition of Lilley Plummer Risks, during which the business delivered strong performance with revenue increasing by 67% year-on-year despite softer conditions in certain market classes. Growth was supported by expansion into European and North American markets across specialist lines of business, while adjusted EBITDA increased by 130% reflecting both revenue growth and improved operational leverage. The continued scaling of the platform was also reflected in headcount growth from 38 to 71 colleagues across London and Cyprus operations.
§ Ireland. Clear continued to expand its presence and specialist capabilities in the Irish market during the year, supported by the acquisitions of Phelan Caswell Insurance Services Limited, including EBIB and Sweeney Walsh & Associates (which are now fully integrated as part of Clear Insurance Ireland), adding €13m GWP, a Dublin office and 19 employees. The transaction strengthened the Group’s expertise in equestrian insurance and broader commercial lines, while also enhancing its customer proposition through the addition of wider financial services capability.
· Brokerbility. Brokerbility continued to strengthen its position as a growth focused independent broker network during the year, adding three new member firms and further enhancing its proposition through strengthened insurer partnerships, which improved product offerings and commercial arrangements for members. The network also continued to invest in capability, delivering approximately 2,000 hours of training to member firm employees, while the Affiliate Partner programme expanded to 15 partners, providing additional specialist expertise and support services to members. The acquisition of Gauntlet Group in January 2026 has provided a new Appointed Representative capability alongside Brokerbility, bringing 50 new regionally based businesses to complement the Group’s comprehensive coverage in the UK.
· M&A. The Group welcomed five acquisitions during FY25 across three of its pillars, contributing to the growth of UK Retail (CR Toogood, Moore Robinson, Delco Safety), MGA (Protect) and Ireland (Phelan Caswell, including EBIB and Sweeney Walsh & Associates). Each supported Clear’s strategy of building capability and regional reach. Origination activity in FY25 has also positioned the Group well for a stronger acquisition pipeline across all pillars in FY26.
Mike Edgeley, Group CEO of Clear Group said: “We have delivered another highly positive year for Clear, with strong revenue growth, improved profitability and continued organic growth across the Group. These results reflect the disciplined execution of our long-term strategy and the strength of the diversified platform we have built.
“Over the last few years, we have transformed Clear into a scaled, multi-pillar insurance distribution Group with meaningful specialist capability across retail broking, MGAs, London Markets and Ireland. During FY25 we continued to invest in our people, technology, operational infrastructure and client propositions, while also strengthening our insurer partnerships and expanding our specialist capabilities. It’s particularly pleasing to see the strength and quality of ambitious people and teams who joined us in the last 12 months as we continue to attract leading market talent for those who want to build successful and rewarding careers at Clear Group.
“The London Markets business has performed exceptionally well in its first full year within the Group, while the continued development of Shape Underwriting and our expansion in Ireland demonstrate the significant opportunities we continue to see across the platform.
“Importantly, we continue to deliver strong organic growth despite a more competitive market environment, reflecting both the quality of our people and the strength of our customer relationships.
“As we move into the next phase of our growth journey, our focus remains on broadening the capability and reach of each of our operating pillars, attracting the best talent, diversifying and accelerating our strong technology and data agenda to deliver service quality, margin improvement and sustainable long-term growth.”
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