By Ashish Tiwari
July 17 - (The Insurer) - Goldman Sachs-backed UK broker consolidator Clear Group reported 11% organic growth for the first quarter of 2025 on Thursday.
The group also released its financial results for the year ended October 31, 2024, during which its revenue increased by 24.5% to 93 million pounds, and adjusted Ebitda jumped 45.8% to 27.7 million pounds.
On a pro forma basis, Clear Goup posted revenue of 126.3 million pounds and Ebitda of 44.3 million pounds. This marked year-on-year increases of 37.6% and 62.9%, respectively.
The increase in revenue was driven by the impact of several acquisitions made during the year, with the insurance intermediary completing 12 acquisitions in 2024.
In the past year, the company has expanded in the London market, most notably through the acquisition of Lilley Plummer Risks, as well as deals with A-One Group and CoverMarque.
The M&A spree has continued into the 2025 financial year, with recent deals including Ireland-based Phelan Caswell, Moore Robinson, Protect Underwriting and C.R. Toogood & Co.
Clear Group has also rebranded parts of its operations during the year, including Shape Underwriting and Clear Insurance Ireland, as well as consolidating its UK retail businesses onto a single tech platform.
((ashish.tiwari2@thomsonreuters.com))
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