The Clear Group has announces the acquisition of leading specialist commercial lines MGA, Profile Risk Solutions Ltd. This represents the Clear Group’s third MGA deal and is a continuation of its strategy to build a market leading MGA capability.
Based in Essex, Manchester and London, Profile Risk Solutions Ltd which trades as Profile Underwriting was founded by CEO Paul Adams in 2015. Under the leadership of Paul and fellow directors James Kerr and Jeremy Cameron, the business has grown strongly, now controlling £22m GWP. A professional underwriting team of 20+ staff provide niche property and liability solutions for corporate and SME clients through London market and regional broker partners. The business is also a member of the Managing General Agents Association (MGAA) and a Lloyd's approved coverholder.
Last month, the Clear Group announced its investment in Thomond Underwriting Limited based in the Republic of Ireland and Northern Ireland. It also acquired Speciality Lines MGA, One Commercial Specialty Limited. Both firms will now work closely with the Profile Risk Solutions team to build and grow Clear’s MGA proposition to brokers.
Mike Edgeley, Group CEO of the Clear Group, said: “The acquisition of Profile Risk Solutions marks an important moment in our strategy as we build our MGA capability for brokers. Paul and his team have an exceptional reputation in the market and will play a vital part in growing our MGA offering.”
Paul Adams, CEO of Profile Risk Solutions Ltd said: “Joining forces with Clear is an exciting moment for the Profile team. Clear gives us the financial firepower and support to build an enhanced MGA proposition, underpinned by high quality underwriting expertise and excellent levels of service.”