Independent broker Clear Group has acquired Brokerbility Holdings, the parent company of brands such as BHIB Insurance Brokers and Churchill Insurance Consultants.
The deal, which also sees Clear Group acquire the Brokerbility Network, Brokertech and Brokerbility Information Gateway (BIG), represents its 27th broker acquisition since 2001 and now means the group handles more than £200 million in premiums and employs more than 400 people across 10 offices
Brokerbility Group will be led by chief executive officer Ian Stutz and Ashwin Mistry will continue to champion the role of the independent broker as chairman of the 27 member strong Brokerbility Network.
Clear Group will lead the integration of the businesses with Mistry and Stutz joining its board and its own directors joining the boards of the Brokerbility companies.
According to Clear Group, its previous successful acquisitions of Morrison Insurance Solutions and MPW Insurance Brokers shows how well the combined businesses will work together to support clients, employees, investors, vendors and regulators.
The addition of BHIB and Churchill to its portfolio brings expertise in small business insurance, transport and logistics, contractors, welfare and schemes, as well as professional indemnity, property owners and commercial insurance.
Howard Lickens, chief executive officer of Clear Group, said: “This is a brilliant deal for Clear and everyone involved with Brokerbility, BHIB and Churchill. Both Ashwin and Ian have done such a fantastic job and I’m delighted that my friends will continue to lead Brokerbility in the next phase of its exciting journey.”
Mistry said: “This deal gives Brokerbility the firepower to invest and attract new members to our group. A change of ownership to a fellow member also means that Brokerbility can continue to be the torchbearer for independent brokers, who as a group, are operating to the highest standards of technical competency and ethical behaviour.”