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Clear Group acquires Commercial Risks and Troon Underwriting
Commercial Risks, founded in 2002, places complex London Market risks into Lloyd’s and related company markets, and Clear said the deal is meant to broaden capabilities while keeping an expert-led approach.
Clear Group, an independent insurance intermediary, has acquired London-based specialist broker Commercial Risks (UK) Ltd and its managing general agent, Troon Underwriting, as part of its push to expand its wholesale proposition.
Commercial Risks was founded in 2002 and is led by Managing Director James Osman, who has more than 25 years’ experience placing complex, challenging and specialist risks into Lloyd’s and the surrounding company markets, serving primarily the wholesale market.
The business works with UK insurance brokers to access dedicated London Market capacity and develop solutions for risks that extend beyond the conventional composite market, according to the deal description.
In comments included with the announcement, Osman said joining Clear would build on Commercial Risks’ specialist foundation while benefiting from the scale, infrastructure and resources of a larger independent group, adding that Clear would broaden capabilities while retaining the expert-led, personal approach.