Clear Group Acquires UK Broker A-One Insurance Group

The Clear Group, the London-based independent insurance broker, announced the acquisition of A-One Insurance Group (A-One), a major commercial insurance broker in the south of England.

Financial details of the transaction were not disclosed.

Clear said this latest deal is the company’s largest acquisition of a retail broker to date and reinforces its commitment to building a strong regional broking presence as part of its long-term growth strategy.

Based in Ringwood, England, A-One was established in 1993 and has grown into one of the largest independent brokers in the south of England, with offices in seven locations and employing more than 150 staff.

A-One is a top-75 insurance broker in the UK, controlling premiums in excess of £50 million. The business provides a range of commercial insurance solutions to small-and-medium-sized enterprises (SMEs) through to large corporate clients, with strong specialisms in a number of sectors including property, high net worth, employee benefits and personal lines.

Managing director of A-One, Ian Penfold, and his leadership team will form a new South West Region for Clear, increasing its regional coverage. A-One will also bring across its network of nine-appointed representatives and their teams.

“We have known and have admired the A-One team for many years so are delighted that they are now joining us on our exciting growth journey,” according to Clear Group CEO Mike Edgeley.

“Building a strong regional broking presence remains a key part of our long-term strategy and this latest acquisition reinforces that commitment,” he added. “A-One strengthens our position as one of the largest brokers serving the South of England where we already have a strong regional presence. We look forward to welcoming our friends from A-One who I know will bring significant value and experience to our business.”

“We have worked hard to build the A-One business across the South of England,” commented Penfold. “Throughout this time, we have enjoyed a great relationship with our colleagues at Clear, often collaborating on ideas and solutions for our clients. So it was an easy choice when deciding on the best home for our business. The future direction of A-One with Clear is an exciting one and we look forward to working with Mike and his team on developing their fantastic business model.”

Clear Group is owned by Private Equity at Goldman Sachs Alternatives.

Source: The Clear Group