Clear grows Ebitda by a third

Mike Edgeley, group CEO of Clear

Clear Group grew its Ebitda by 33.4% to £19m, with revenue jumping to £74.7m in the year ended 31 October 2023.

Revenue was up from £56.7m the year before.

Clear explained this growth reflected it “building strong relationships” with its client and a renewal retention of 94% for the period.

The broker added the totals were boosted through organic growth and strategic acquisitions. It struck 10 deals in the year and has a growing MGA portfolio from acquiring three businesses: Profile Underwriting, One Commercial Specialty and a 50% shareholding in Thomond Underwriting based in Ireland.

In the buying spree it

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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