Insurance broker Clear Group, has announced its first MGA investment with the acquisition of a 50% shareholding in Thomond Underwriting Limited.
Based in the Republic of Ireland and Northern Ireland, Thomond Underwriting is a commercial MGA and Lloyd’s Coverholder, which has been operating in the region since 2007.
It deals exclusively through brokers and offers a wide range of commercial insurance solutions including Commercial Liability, Commercial Material Damage and BI, Commercial Property Owners, Contractors All Risks, Personal Accident & illness, Professional Indemnity and Cyber.
According to the announcement, the Thomond team, led by Managing Director John O’Driscoll, will now play an integral part in building Clear’s MGA capability through an enhanced range of products and services.
Mike Edgeley, Group CEO of the Clear Group commented: “Developing an MGA capability is a central plank of our growth strategy, joining forces with John and his team of highly skilled underwriters now provides us the strong foundations to broaden our capability and international reach to brokers in both the Irish and UK Markets.”
John O’Driscoll, Managing Director of Thomond Underwriting said: “We’re delighted to partner with Clear and welcome their investment in our business. We have ambitious plans to invest in our team and develop our service proposition and will be working with Mike and the Clear team to deliver an enhanced proposition to our broker clients.”
