Profits fall at Clear Group in 2018

Clear Insurance Management has revealed a profit before tax of £742,485 for the year to 31 October 2018, a decrease of 67% from last year’s figure.

The firm’s documents, posted on Companies House, also showed that the broker’s operating profit fell by 69% to £698,431 from £2.2m in 2017.

However, its turnover rose by 24% compared to the previous year, from £14m in 2017 to £17.3m in 2018.

Acquisitions
The broker said that of this rise in turnover, £1.8m stemmed from its integration of brokers