The Clear Group announces dual broker buy

The Clear Group has continued its acquisition spree by snapping up two brokers.

In a statement released yesterday (6 July 2023) revealed, The Clear Group said it had acquired Mayor Broking and MJB Finningley.

High Wycombe-based Mayor Broking, which was incorporated on Companies House in February 2007,  provides insurance solutions for property owners, fleet, commercial motor and high net worth (HNW) properties. 

It is also an appointed representative of Ten Insurance Services.

MJB Finningley, meanwhile, was incorporated in April 2014 and is based in Doncaster.

The specialist broker provides risk management solutions across fleet, commercial motor and commercial combined.

People moves

The deal will see Mayor Broking managing director Nigel Mayor join forces with Clear’s team based in Amersham.

And Mike Blackham, managing director of MJB Finningley, will be based in Doncaster and work closely with the ProAktive team, a broker and risk management business which was acquired by Clear in June 2022.

“Nigel and Mike are great additions to the Clear Group and their businesses will certainly enhance and grow our capabilities and help us deliver on our ambitious plans,” Mike Edgeley, The Clear Group’s chief executive, said.

”Clear is keen to attract brokers of different sizes including smaller brokers who want to be part of our exciting journey.”

MGA deal

This came after The Clear Group announced its first ever MGA deal earlier this week (4 July 2023).

The firm said it had acquired a 50% shareholding in Thomond Underwriting, a business that deals only through brokers.

Edgeley said that “developing an MGA capability is a central plank of our growth strategy” as the firm looks to broaden its international reach.