The Clear Group has announced the acquisitions of HIA International based in Coventry and Bedford and Luker Rowe Chartered Insurance Brokers based in Amersham.
The firm said the latest deals reflect a continuation of its strategy to acquire “well-run and profitable broking firms as well as attracting brokers to join its Brokerbility network”.
Since 2016, the Clear Group has doubled in size and now handles £225m in premiums.
HIA International is a chartered broker, established in 1996. Clear said the existing management and wider team will all remain with HIA International and work closely with Clear colleagues on integrating the business. This will include relocating the Coventry office to the Clear operation in Leamington Spa to create a branch of real expertise and scale. A small team will continue to work from the HIA office based in Bedford.
It added the HIA business boasts a “strong reputation and capability” in property owners’ insurance. It also provides Pet Professionals At Work, specifically designed to meet the insurance needs of businesses and individuals providing professional pet care services. HIA has a strong track record with growing revenues of over £1.9m per annum.
In addition, it revealed the team of 40 at Luker Rowe Chartered Insurance Brokers provide a range of business and personal insurance totalling a GWP of £18m with revenues in excess of £3m per annum.
The broker has over 30 years’ experience providing insurance for the audiovisual and events industry and is a member of the National Outdoor Event Association, providing insurance for its event professionals.
The management team and staff, led by Principal, Chris Luker and MD, John Dunn will all remain with the business.
Howard Lickens, executive chairman of the Clear Group, said: “We have known the teams at both HIA and Luker Rowe for many years so are confident that they will make a seamless transition to the Clear Group. Both businesses have real expertise in areas including property, pet and event insurance, which will enhance our own capability for operating in niche markets.
“These deals, once again, demonstrate the flexibility and attraction of our business model, which provides brokers with real choice in the future direction of their business. This can be through a soft succession option or through membership of the Brokerbility network.”