Insurance broker Clear Group has announced its acquisition of Specialty Lines MGA, One Commercial Specialty Limited.
This marks Clear Group’s second MGA deal, as earlier this month the broker announced the acquisition of a 50% shareholding in Thomond Underwriting Limited, based in the Republic of Ireland and Northern Ireland.
This second acquisition plays a pivotal role within Clear Group’s ongoing 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 Speciality Limited offer Professional Indemnity and Directors’ and Officers’ Liability Insurance products across a range of professions and industry sectors. The company’s 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.
Mike Edgeley, Group CEO of the Clear Group, commented: “We are delighted to welcome One Commercial Speciality which will play an integral part in building our MGA proposition and help deliver better customer outcomes across a number of specialist lines of business. Dan and James have built a great business and we look forward to pulling together our different strengths and investing in their ambitious plans to provide a broader and enhanced proposition to brokers.’
Dan Mitchell and James Russell of One Commercial Speciality 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 management team to deliver an even more compelling proposition to our broker partners’.
