Clear Insurance Management Ltd has now doubled in size since 2016, announcing its biggest acquisition in the form of Alcester-based Morrison Insurance Solutions.
According to Clear Insurance, which is part of The Clear Group, the deal represents its second location in the Midlands where the Chartered insurance broker plans to expand further. Financial terms of the Warwickshire transaction, however, were not disclosed.
Commenting on the development, Morrison Insurance Solutions managing director Ian Millard described it as “a great move” for both their workforce and clients.
“It was by far the best home for Morrison Insurance Solutions, where Howard [Lickens] and his team have built a successful business while retaining their values and independence as a broker,” noted Millard, who will continue to lead the property owners insurance specialist.
“Their expertise in property owners business and other niches will undoubtedly be a major boost as we seek to continue our success and indeed expand our presence in these areas.”
Morrison Insurance Solutions also holds Chartered status and, like Clear Insurance, is a longstanding member of independent brokers group Brokerbility.
“We have been friends with the team at Morrisons for many years and are delighted that they have now joined us,” said Clear Insurance chief executive Howard Lickens (pictured), whose firm now handles £135 million in premiums.
“Ian and his team will now play an important part in our strategy as we continue to grow across our niche lines of business and in the region. ECI’s support is enabling us to make further quality acquisitions of brokers that share our vision and culture.”
Last year The Clear Group announced a significant investment from private equity firm ECI Partners.