The latest acquisitions news from Clear group for you;
Clear Group, the independent insurance intermediary, has acquired London based specialist broker Commercial Risks (UK) Ltd and its MGA, Troon Underwriting as it continues to execute its growth strategy and invest in technical expertise across the Group. Founded in 2002 and led by James Osman, Commercial Risks is a London Market insurance broker with more than 25 years’ experience placing complex, challenging and specialist risks into Lloyd’s and the surrounding company markets.
The business operates predominantly in the wholesale market, working with insurance brokers throughout the UK to access dedicated London Market capacity and develop solutions for risks that require expertise beyond the conventional composite market.
Commercial Risks has particular expertise across Commercial Combined, Contractors’ Risks, Casualty, Professional Risks, Property Owners’, Education, Care and Sports, Leisure and Entertainment business. Alongside its core broking activities, Commercial Risks is also an approved Lloyd’s Coverholder and operates its MGA, Troon Underwriting, under a number of delegated underwriting authorities. The business also retains a selective retail broking portfolio.
The acquisition is an important addition to Clear’s London wholesale capability, which has been a key focus area of growth for the Group over recent years. Commercial Risks brings established technical liability expertise, long standing Lloyd’s capacity relationships and a strong network of brokers, alongside a consistent track record of winning new business. The business employs seven people.
Joining Clear will provide the Commercial Risks team access to the Group’s broader infrastructure, resources and expertise, while enabling the business to maintain its London Market focus and develop its relationships with broker partners and insurers.
James Osman, Managing Director of Commercial Risks, said:
“Commercial Risks has always been built around specialist London Market expertise, strong relationships and finding solutions for risks that are difficult to place in the conventional market. Joining Clear gives us the opportunity to build on that foundation while benefiting from the scale, infrastructure and resources of a larger independent group. It will allow us to broaden our capabilities while retaining the expert-led approach and personal relationships that have always been central to the business.
“We are particularly excited about the opportunity to contribute to the continued development of Clear’s London Market proposition and to give our broker partners access to an even broader range of expertise and solutions.”
Mike Edgeley, Group CEO of Clear Group said: “Commercial Risks is an excellent fit for Clear and represents another important step in our strategy of building specialist capability across the Group.
“The business has a strong reputation in the wholesale market, genuine expertise in complex liability and an impressive network of broker relationships. James and his team have built a business with a clear specialist identity and a strong track record of growth.
“Our focus is on giving the team the platform and support they need to take the business to the next stage, while retaining the expertise and entrepreneurial approach that have made Commercial Risks successful.
“Wholesale is an important growth area for Clear and this acquisition significantly strengthens our capability in a specialist part of the market. It also gives our wider broker network access to additional expertise and capacity in complex risks.”
The acquisition forms part of Clear Group’s broader growth strategy, which combines organic development with targeted acquisitions that add specialist expertise, strengthen its market proposition and create greater value for clients and broker partners.
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