Clear Group has acquired London-based specialist broker Commercial Risks (UK) and its MGA, Troon Underwriting, as the independent insurance intermediary continues to expand its London market capabilities.
Founded in 2002 and led by James Osman, Commercial Risks specialises in placing complex and specialist risks into Lloyd's and company markets. The business operates primarily in the wholesale sector, working with brokers across the UK to access specialist underwriting expertise and London market capacity. It has developed expertise across a range of classes, including commercial combined, contractors' risks, casualty, professional risks, property owners, education, care, and sports, leisure, and entertainment.
Alongside its broking activities, the firm operates as a Lloyd's coverholder through Troon Underwriting and writes business under a number of delegated underwriting authorities.
James Osman, managing director at Commercial Risks, said joining Clear Group would build on the firm's foundations.
"Commercial Risks has always been built around specialist London market expertise, strong relationships and finding solutions for risks that are difficult to place in the conventional market," said Osman. "Joining Clear Group gives us the opportunity to build on that foundation while benefiting from the scale, infrastructure and resources of a larger independent group. It will allow us to broaden our capabilities while retaining the expert-led approach and personal relationships that have always been central to the business."
Clear Group said the acquisition aligns with its strategy of investing in specialist expertise and expanding its wholesale proposition. The group will provide the Commercial Risks team access to its broader infrastructure, resources, and expertise, while enabling the business to maintain its London market focus and develop its relationships with broker partners and insurers.
Mike Edgeley, group chief executive at Clear Group, said Commercial Risks was an excellent fit.
"Commercial Risks is an excellent fit for Clear Group and represents another important step in our strategy of building specialist capability across the group," said Edgeley. "The business has a strong reputation in the wholesale market, genuine expertise in complex liability and an impressive network of broker relationships. Osman and his team have built a business with a clear specialist identity and a strong track record of growth. Our focus is on giving the team the platform and support they need to take the business to the next stage, while retaining the expertise and entrepreneurial approach that have made Commercial Risks successful."
