The Clear Group has announced its financial results for the year ended October 31, 2022.
In its earnings report, the independent broker said Clear’s revenue rose by 26% to £56.7 million in the period while EBITDA (earnings before interest, tax, depreciation, amortisation, and exceptional items) saw a 37% increase to £14.3 million.
“2022 marked an exceptional year for The Clear Group, achieving strong growth both organically and geographically through selective acquisitions,” group chief executive Mike Edgeley said in an emailed release. “The new investment from Goldman Sachs is great testament to our long-term strategy to broaden our capability and international reach.
“So far during 2023 we have already completed six further acquisitions and have a strong pipeline in place. This will see us add strength to our specialist niches, wholesale, MGA (managing general agent), and London market opportunities as well as expanding our presence in Europe.”
During the year to October 31, 2022, Clear completed five brokerage deals. Meanwhile, in the current financial year, the group made its first investment into managing general agents.
“Clear will continue to build a balanced and sustainable business, which includes growing its capabilities and international reach,” the company said.
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