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 key role within Clear Group’s ongoing strategy to build market-leading MGA capabilities.
One Commercial Specialty Limited’s MGA expertise will sit alongside Clear’s retail broking business.
A Commercial Specialty Limited offers Professional Indemnity and Directors and Officers Liability Insurance products to various 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 the MGA Clear proposition to brokers.
Mike Edgeley, Group CEO of Clear Group, commented: “We are delighted to welcome a Commercial Specialist who will play an integral part in building our MGA proposition and help deliver better customer outcomes in many specialist lines of business. Dan and James have built a great business and we look forward to combining our various strengths and investing in their ambitious plans to provide a wider and enhanced proposition to brokers.’
Dan Mitchell and James Russell of One Commercial Specialty jointly said: “The investment 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 foundation 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.