The Clear Group, an insurance intermediary backed by Goldman Sachs Alternatives, has entered the Lloyd’s wholesale market by acquiring marine and property specialist Lilley Plummer Risks for an undisclosed sum.
The deal marks Clear’s largest by gross written premium, adding approximately £150 million in GWP to its portfolio. It complements the group’s existing UK retail, European, Irish, managing general agent, and network businesses, positioning the transaction as a strategic move in its ongoing growth efforts.
Founded in 2019, Lilley Plummer has swiftly scaled its operations, evolving from a marine-focussed brokerage into an international wholesaler covering multiple insurance classes. With access to Lloyd’s and the London market, Lilley Plummer caters to both UK and international brokers.
Manned by 38 people, the business is led by chief executive Stuart Lilley (pictured left) and managing director Dan Plummer (pictured right).
“This deal is transformational for us,” stated Clear CEO Mike Edgeley. “It reinforces our long-term strategy, set out some time ago, to broaden our specialist capabilities, strengthen our wholesale business, and bolster our Lloyd’s presence.
“We knew straight away that this was no ordinary broker, that their skillset perfectly complimented our strategy, and so I am absolutely delighted to be welcoming Stuart, Dan, and all the Lilley Plummer team to Clear.”
For Lilley Plummer’s leadership, becoming part of Clear represents a new phase in the firm’s trajectory.
“Dan and I are proud of everything we’ve achieved with Lilley Plummer and grateful to our team and partners who made it all possible,” said Lilley. “Joining The Clear Group marks an exciting new chapter, and I’m confident that Lilley Plummer’s values and legacy will continue to thrive.
“Together, we’ll build on past successes and explore new opportunities to create lasting value.”
Plummer echoed the sentiment, adding: “Stuart and I were wholly focussed on finding a partner that would put our people and clients first. We quickly saw the cultural and strategic synergies between our business and Clear’s.
“In Clear and with the backing of Goldman Sachs Alternatives, we have the right partners to support our ambitious growth plans as we continue to expand the strength and capabilities of the business and attract leading talent who want to be part of our exciting growth journey.”
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