The Clear Group has announced the acquisition of a 50% shareholding in Thomond Underwriting based in the Republic of Ireland and Northern Ireland. It is the group’s first MGA deal and part of a strategy to expand its international reach.

Thomond Underwriting is a commercial MGA and Lloyd’s coverholder which has been operating in Ireland and Northern Ireland since 2007. It deals exclusively through brokers and offers a range of commercial insurance products including commercial liability, commercial material damage and BI, commercial property owners, professional indemnity and cyber.

The Thomond team will continue to be led by managing director John O’Driscoll. Mike Edgeley, group CEO of the Clear Group, said: “Developing an MGA capability is a central plank of our growth strategy, joining forces with John and his team of highly skilled underwriters now provides us the strong foundations to broaden our capability and international reach to brokers in both the Irish and UK markets.”

Thomond’s O’Driscoll added: “We’re delighted to partner with Clear and welcome their investment in our business. We have ambitious plans to invest in our team and develop our service proposition and will be working with Mike and the Clear team to deliver an enhanced proposition to our broker clients.”

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