The Clear Group (Clear) has announced its acquisition of Maynard Milton Insurance Services LLP’s (Maynard Milton) book and assets.
Founded over three decades ago, Maynard Milton operates as a £4.9 million gross written premium broker in Southend-on-Sea, Essex. The firm is recognised for its strong position in the local market, particularly in the fleet and property insurance sectors.
Post-acquisition, the entire team from Maynard Milton, including partners Martin Maynard and Kevin Milton, will integrate into the Clear Group.
This strategic move aims to bolster the group’s presence in the region, complementing its current operations in Shoeburyness.
Commenting on the deal, Mike Edgeley (pictured), group CEO of the Clear Group, highlighted Maynard Milton’s consistent growth and profitability over the years.
“We are delighted to welcome the Maynard Milton team to Clear. This is a well-run and profitable business which has a track record of delivering year-on-year growth. It’s another example of how Clear is able to invest in regional brokers while adding scale and expertise to our client proposition,” he said.
Kevin Milton, co-founder of Maynard Milton Insurance Services LLP, said the Clear Group aligns with their values, particularly placing clients at the heart of the business.
“Our team has worked hard to build a successful brokerage, so it was important that we found the right home to serve our clients moving forward. In [the] Clear Group, we saw a business which shared our values for placing the client at the heart of its proposition. We are now looking forward to working closely with our new colleagues at Clear to continue to provide our clients with the best possible service and products,” he said.
This acquisition is part of the Clear Group’s broader strategy to expand its footprint and capabilities in the UK insurance market. It follows the group’s acquisition of the book and assets of Rycroft Associates LLP (Rycroft Associates), which includes Inspire Credit Management Limited (Inspire Credit Management).
The deal, announced last month, aims to enhance the Clear Group’s commercial solutions as insolvencies in the UK hit a 30-year high.
