The Clear Group, the London-based insurance coverage middleman, introduced the acquisition of dealer Phelan Caswell Insurances, primarily based in Dublin, Eire.
The deal additionally sees Clear purchase the monetary planning belongings of the enterprise. Monetary particulars of the deal weren’t disclosed.
Phelan Caswell Insurances Ltd. (PCI), previously BHP Insurances Ltd, was based in 1998, and has established itself as a number one supplier of insurance coverage and monetary planning companies throughout Eire.
Beneath the phrases of the settlement, Clear Group has acquired 100% of the PCI enterprise, which can see the manager administration staff, which incorporates managing director Mark Phelan, proceed to steer the enterprise of 18 workers members.
The enterprise supplies complete insurance coverage choices to over 2500 purchasers nationwide, specializing in industrial insurance coverage sorts and sectors comparable to development, hospitality and occasions.
PCI has a robust monitor file of natural development alongside making selective acquisitions, together with in 2023, when it acquired EBIB Insurances, a well-established equine insurance coverage dealer primarily based in Naas, Co Kildare. Extra not too long ago it invested within the e book of enterprise of Sweeney Walsh and Associates, a long-established Equestrian brokerage in Clonmel, County Tipperary.
Clear mentioned this newest acquisition marks the continuation of its funding into Eire as a key market and partnering with like-minded brokers within the nation. In April 2023, The Clear Group acquired Munster-based commercial broker MBC Insurance, marking its first transfer into the Irish dealer market.
“Phelan Caswell Insurances is a top quality dealer which provides important worth to our rising presence in Eire. Mark and his staff are extremely regarded throughout the Irish market. I’m positive they may thrive from being a part of the Clear household as we proceed to bolster our presence in Eire,” commented Mike Edgeley, group CEO of the Clear Group, in a press release.
“Partnering with Clear is nice information for our purchasers and workers. With assist from the broader Irish enterprise, we will present an enhanced vary of services and products, leveraging the power of a bigger organisation,” in keeping with Mark Phelan, managing director of Phelan Caswell Insurances.
“This implies we have now higher entry to specialist experience and options tailor-made to our purchasers’ evolving wants, with the last word impact of enhancing our proposition and repair to our prospects. Clear additionally offers us entry to new markets and improved assist via its intensive assets. Most of all Clear was a standout by way of its folks and values,” Phelan added.
Supply: The Clear Group
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