The Clear Group has acquired Dublin-based broker Phelan Caswell Insurances (PCI), including its financial planning assets, as part of its expansion in Ireland.
Under the agreement, Clear Group has acquired 100% of the business. The executive management team, led by managing director Mark Phelan, will continue to run the team, which has 18 staff.
The acquisition follows Clear Group’s entry into the Irish market in April 2023, when it acquired Munster-based commercial broker MBC Insurance.
Commenting on the acquisition, Phelan said the deal will allow them to provide a wider range of products and services, giving the company greater access to expertise and solutions.
“Clear also gives us access to new markets and improved support through its extensive resources,” Phelan said.
Established in 1998, PCI, which was formerly called BHP Insurance Ltd, provides insurance and financial planning services to over 2,500 clients across Ireland. The firm specialises in commercial insurance, covering sectors such as construction, hospitality and events.
The company has grown through both organic development and acquisitions, including its purchase of EBIB Insurances in 2023. It also recently invested in the book of business of Sweeney Walsh and Associates, an equestrian brokerage.
“Phelan Caswell Insurance is a quality broker which adds significant value to our growing presence in Ireland,” said Mike Edgeley (pictured), group CEO of Clear Group. “Mark and his team are highly regarded across the Irish market. I’m sure they will thrive from being part of the Clear family as we continue to bolster our presence in Ireland.”
Des Murphy, managing director of Clear Ireland, said that the company’s strategy is to continue expanding and partnering with “more like-minded brokers across the country.”
Last year, Clear Group announced its largest retail broker acquisition to date with the purchase of A-One Insurance Group, which specialises in various insurance sectors, including property, high net worth, employee benefits and personal lines.
