Today, we announce the acquisition of fast-growing niche schemes broker CoverMarque Limited, based in Hampshire. This represents yet another significant acquisition which fits with our long-term growth strategy; to provide deep specialist capabilities across our retail broking business.
Established in 2003, CoverMarque is a niche schemes broker specialising predominantly in insurance for temporary marquee structures. The business, which founded by Managing Director Nick Drew, has an unrivalled reputation in this sector which is reflected in the fact that CoverMarque has grown its schemes business by over 120% in the past four years.
Nick Drew and his team will join forces with our retail business as we continue to broaden our specialist capabilities. Our existing scale and influence in the market will support CoverMarque’s ambitions, as it looks to capitalise on significant growth opportunities which include providing event and fleet insurance solutions for its clients.
Clear CEO Mike Edgeley said: “CoverMarque ticks all the boxes in what we look for in a business which can support our growth ambitions. It’s a fast growing, entrepreneurial led firm which has carved out a distinctive position in the market for being a real specialist in its field. There is significant opportunity for Nick and his team to thrive within Clear as they look to expand their specialist offering to clients.”
CoverMarque founder and MD Nick Drew said: “Clear has an outstanding reputation for backing specialist businesses so we are delighted that we have found the ideal partner for CoverMarque. It’s particularly important that we continue to offer our clients the exceptional service and innovative solutions which have been the foundations of our success to date. With Clear’s support we are well positioned to grow even faster particularly as we look to expand into new markets.”
Nick and the CoverMarque team, welcome to Clear!
