The Clear Group announces the acquisition of specialty lines MGA One Commercial Specialty Limited
This latest deal represents the 42nd acquisition made by CLEAR since it was established in 2001. It also marks its second MGA deal and further advances the Group's strategy to build a market-leading MGA capability. One Commercial Specialty Limited’s MGA expertise will sit alongside CLEAR’s retail-broking business.
One Commercial Specialty Limited offers professional indemnity and directors’ and officers’ liability insurance products across a wide range of professions and industry sectors. Its directors Dan Mitchell and James Russell will continue to lead the business and play a key role in developing CLEAR’s MGA proposition to brokers.
Earlier this month, the Clear Group announced the acquisition of a 50% shareholding in Thomond Underwriting Limited, based in the Republic of Ireland and Northern Ireland.
Mike Edgeley, Group CEO of the Clear Group said: “We are delighted to welcome One Commercial Specialty, which will play an integral part in building our MGA proposition and help deliver better customer outcomes across specialist lines of business. Dan and James have built a great business and we look forward to pulling together our different strengths to provide a broader and enhanced proposition to brokers."
Ryan Gill, Chief Commercial Officer at Bspoke Group, said: “We’re pleased to have concluded this deal with the team at Clear Group. I’m confident they will be excellent custodians of One Commercial Specialty and we wish the team well for the future.”
Dan Mitchell and James Russell of One Commercial Specialty jointly said: “The investment which the Clear Group has made in our business will make a significant difference to our brokers and their clients. CLEAR is a great cultural fit and provides a stronger base for our business, and we look forward to working with the Clear team to deliver an even more compelling proposition to our broker partners."