The Clear Group has announced the acquisition of high-net-worth (HNW) specialist broker Porticus Insurance Consultants Limited.
Established in 2003 by managing director Bill Baker, Porticus specialises in insurance solutions for high-value properties, luxury vehicles, as well as fine art and jewellery.
With this transaction, Baker and the Porticus team will now collaborate closely with the Clear Group’s existing staff to further develop the wider company’s HNW insurance propositions.
Group CEO Mike Edgeley commented on the deal in a release, stating that the addition of Porticus will bring a “tremendous wealth of experience” to the Clear Group’s HNW capability.
“We’re delighted Bill and his team are joining us,” Edgeley said. “This is another example of how Clear invests in and supports smaller brokers, adding more services to their clients and extending our own specialties.”
Echoing Edgeley’s sentiments, Baker highlighted the strategic alignment between the two firms.
“It was really important that we secured the right home for the Porticus business and its clients,” said Baker. “Clear has a strong and growing offering in the HNW space, which makes it the perfect fit, and we look forward to taking our business to new heights.”
The Clear Group’s acquisition of Porticus comes after it announced its swoop for the entire general insurance book of regional broker P W White & Partners Limited.
What are your thoughts on this story? Feel free to comment below.
