CLEAR completes its third commercial MGA deal
This latest deal represents the 43rd acquisition made by CLEAR since it was established in 2001. It also marks its third MGA deal and further advances the Group's strategy to build a market-leading MGA capability.
Based in Essex, Manchester and London, Profile Risk Solutions Ltd, which trades as Profile Underwriting, was founded by CEO Paul Adams in 2015. Under the leadership of Paul and fellow directors James Kerr and Jeremy Cameron, Profile Risk Solutions Ltd has enjoyed vigorous business growth and today controls £22m GWP. A professional underwriting team of more than twenty staff provides niche property and liability solutions for corporate and SME clients through the London market and regional broker partners. The business is also a Managing General Agents Association (MGAA) member and a Lloyd's approved coverholder.
Last month, the Clear Group announced its investment in Thomond Underwriting Limited based in Ireland and Northern Ireland. It also acquired specialty lines MGA, One Commercial Specialty Limited. Both firms will work closely with the Profile Risk Solutions team to build and grow CLEAR’s MGA proposition to brokers.
Mike Edgeley, Group CEO of the Clear Group, said: “The acquisition of Profile Risk Solutions marks an important moment in our strategy as we build our MGA capability for brokers. Paul and his team have an exceptional reputation in the market and will play a vital part in growing our MGA offering.”
Paul Adams, CEO of Profile Risk Solutions Ltd said: “Joining forces with CLEAR is an exciting moment for the Profile team. CLEAR gives us the financial firepower and support to build an enhanced MGA proposition, underpinned by high-quality underwriting expertise and excellent levels of service.”