Clear Group, an independent insurance intermediary, continues to build its specialist wholesale proposition with the acquisition of London based specialist broker Commercial Risks (UK) Ltd and its managing general agent (MGA), Troon Underwriting.
Founded in 2002, Commercial Risks is a London Market insurance broker led by James Osman with over 25 years’ experience placing complex, challenging and specialist risks into Lloyd’s and the surrounding company markets.
The business operates predominantly in the wholesale markets, collaborating with UK insurance brokers to access dedicated London Market capacity and develop solutions for risks extending pass the conventional composite market.
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,” he added.
Commercial Risks has particular expertise across Commercial Combined, Contractors’ Risks, Casualty, Professional Risks, Property Owners’, Education, Care and Sports, Leisure and Entertainment business.
Beyond its core broking functions, the firm operates as an approved Lloyd’s Coverholder and runs its MGA, Troon Underwriting, under a number of delegated underwriting authorities. Additionally, it maintains a selective retail broking portfolio.
The business brings a proven track record of acquiring new business, established technical expertise, enduring Lloyd’s capacity relationships, and a robust network of brokers.
With a team of seven people, Commercial Risks represents a strategic addition to Clear’s London wholesale operations, which have been a major growth focus for the Group in recent years.
By integrating with Clear, the Commercial Risks team will leverage the Group’s extensive infrastructure, resources, and technical support.
At the same time, the firm will preserve its core focus on the London Market while continuing to foster its relationships with insurer and broker partners.
Mike Edgeley, Group CEO of Clear Group commented: “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.”
