The Clear Group reports strong results and continued growth

Mike-Edgeley,-Group-CEO-of-the-Clear-Group

The Clear Group, which includes Clear Insurance Management Ltd, has announced its latest annual results to 31 October 2021, which show strong growth in revenue and underlying operating profit. Revenue increased by 60.7% to £45m and EBITDA grew by 76% on the back of significant strong organic growth of 8% as well as targeted acquisitions.

The Clear Group is well positioned as a leading independent broker delivering insurance solutions to firms operating in the UK corporate and SME market.

The business will continue to develop its strong expertise in its core insurance verticals including property, professional lines, mid-corporate and construction as well as continue to expand into new specialist areas.

Financial Highlights (year ended 31 October 2021)

Group Highlights

  • In June 2022, Clear announced major new investment from Goldman Sachs Asset Management (subject to FCA approval) to support the next phase of its growth strategy. This will see ECI Partners exit the business later in the year following a successful four-year partnership in which Clear trebled its premiums, today managing over £330m of Gross Written Premium annualised.
  • Clear completed four acquisitions during the year to 31 October 2021, HIA International, Luker Rowe, Anderson White Insurance Brokers and HR Jennings. which added further significant expertise and capability to its client offering.
  • The Group continued to invest in its central service teams across Operations, Marketing, Compliance and Finance to provide the platform for continued organic and acquisition growth.

Mike Edgeley, Group CEO of the Clear Group (pictured) said: “2021 was another year of strong growth for the Group despite the ongoing impact felt across the wider economy caused by Covid.  These results are an excellent base from which we can continue to deliver on our growth strategy in partnership with Goldman Sachs. We are already well ahead of budget in our current financial year which is testament to the hard work and dedication of the special team we have at Clear’. 

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