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UK insurer Clear Group has acquired Dublin broker Phelan Caswell Insurances (PCI), expanding its presence in Ireland.
The financial terms of the deal, which includes the financial planning assets of the business, remain undisclosed.
Established in 1998, PCI provides insurance and financial planning services throughout Ireland.
The company, formerly known as BHP Insurances, has a client base of more than 2,500 nationwide. It provides offerings specialising in commercial insurance for sectors such as construction, hospitality and events.
PCI has made several acquisitions in the recent past, including equine broker EBIB Insurances, based in Naas, County Kildare, as well as investing in the business of Sweeney Walsh and Associates, an equestrian brokerage.
The executive management team of PCI, including managing director Mark Phelan, will join Clear Group, leading 18 staff members.
PCI managing director Mark Phelan: “Partnering with Clear is great news for our clients and staff. With support from the wider Irish business we will be able to provide an enhanced range of products and services, leveraging the strength of a larger organisation.
“This means we have greater access to specialist expertise and solutions tailored to our clients' evolving needs, with the ultimate effect of improving our proposition and service to our customers. Clear also gives us access to new markets and improved support through its extensive resources.”
In April 2023, Clear Group made its debut in the Irish broker market by acquiring MBC Insurance, a commercial broker based in Munster.
Clear Group CEO Mike Edgeley: “Phelan Caswell Insurances is a quality broker which adds significant value to our growing presence in Ireland. Mark and his team are highly regarded across the Irish market. I am sure they will thrive from being part of the Clear family as we continue to bolster our presence in Ireland.”
Founded in 2001 by Howard Lickens and Gary O’Donnell, Clear Group now boasts a workforce of more than 1,000 across the UK, Ireland and continental Europe.
The company established Clear Management Europe in 2023 as part of its long-term growth strategy.
"Clear Group buys Irish broker Phelan Caswell Insurances " was originally created and published by Life Insurance International, a GlobalData owned brand.
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