Clear Group has reported 11% organic growth for the first quarter of 2025, following a period of significant expansion driven by acquisitions, platform integration and investment in talent and technology.
The broker, which partnered with Goldman Sachs in 2022 to accelerate its long-term strategy, published results for the year ending October 31, 2024, showing a 24.5% rise in revenue to £93 million and a 45.8% increase in adjusted EBITDA to £27.7 million. On a pro forma basis, which reflects the impact of acquisitions made during the year, revenue reached £126.3 million and EBITDA totalled £44.3 million.
Clear has grown its footprint substantially since the Goldman Sachs investment, evolving from a 256-person UK retail broker into a multi-line insurance group employing more than 1,000 people across the UK and Ireland. The business now operates across retail, MGA and London market segments, with plans to expand into continental Europe.
In 2024, the group completed 12 acquisitions, including London market broker Lilley Plummer Risks, the A-One Group with more than 170 staff, and schemes specialist CoverMarque. Activity has continued into the new financial year with the acquisitions of Phelan Caswell in Ireland, Protect Underwriting and C.R. Toogood & Co.
Clear has also undertaken a series of operational initiatives aimed at improving integration and efficiency. These include the migration of its UK retail operations on to a single technology platform and the continued development of its MGA capabilities. Rebrands such as Shape Underwriting and Clear Insurance Ireland have been rolled out to align the group under a unified identity.
The group has made senior hires to support the next phase of growth and is investing in training and leadership development. Among its initiatives is a future leaders programme delivered in partnership with Warwick Business School.
“Our strategy is working,” said Mike Edgeley (pictured above), group CEO. “We’ve scaled smartly, integrated effectively, and we continue to grow organically at pace, which is testament to the quality of our employees considering some of the market headwinds.”
Edgeley added that despite a more competitive and uncertain environment, the group is outperforming the market, with its Q1 results signalling continued momentum.
Clear said it will continue to focus on strengthening its core platforms, embedding digital efficiencies, and developing its workforce as it looks to build on its recent growth. The group intends to maintain a selective acquisition strategy while positioning for further expansion across Europe.
