Clear Group, an independent insurance broker in the UK that is owned by Private Equity at Goldman Sachs Alternatives, has acquired Lilley Plummer Risks Ltd., a London-based marine and property specialist. With this acquisition, Clear Group has entered the wholesale Lloyd’s broker space, giving the group presence in the Lloyd’s market and complementing its specialist capabilities. The financial details of the acquisition were not disclosed.
According to Clear Group, the acquisition significantly enhances its wholesale proposition, adding an additional circa £150 million of gross written premium (GWP). This strategic deal adds to the existing key pillars that the group has developed as part of its longer-term growth strategy, alongside its UK retail, Europe, Ireland, MGA, and Network businesses. Lilley Plummer provides UK and international brokers with access to Lloyd’s and the London market, and has experienced rapid growth since its inception in 2019, evolving from its heritage as a leading marine specialist to a multi-class international wholesaler.
CEO of Clear Group, Mike Edgeley, commented, “This deal is transformational for us because 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.”
Stuart Lilley, CEO of Lilley Plummer, added, “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.” Dan Plummer, Managing Director of Lilley Plummer, said, “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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