Clear Group announced the acquisition of MGA Accelerate Underwriting. This marks Clear Group’s fourth MGA acquisition as it strengthens its underwriting capabilities for brokers.
Established in 2015, Accelerate Underwriting is an MGA who underwrites non-standard, specialist and niche commercial products, including care homes, guest houses, unoccupied properties, boats and pleasure craft.
The business has access to both Lloyd’s and non-Lloyd’s capacity and currently insures more than 160,000 businesses and individuals. Accelerate writes the bulk of its business through its AcceleRATER, an online trading platform specifically designed to create and transact non-standard insurance business.
Accelerate Underwriting MD Scott Brown and his team of ten will all join the Clear Group, and will now work closely with Mandy Hunt, MD of Clear MGA to build and grow its MGA proposition for brokers. The business will continue to operate from its London office on Fenchurch Street.
Scott Brown, managing director of Accelerate Underwriting, along with his 10-person team, will join Clear Group. They will collaborate with Mandy Hunt, managing director of Clear MGA, to expand the group’s offering for brokers. Accelerate will continue operations from its London office.
What attracted us to Clear was its exciting strategy to build a really strong and specialist MGA capability for brokers. As an entrepreneurial business, it was also important to ensure we joined forces with a partner which shares our cultural values and ambitions for the future.
Scott Brown, Managing Director of Accelerate Underwriting
Mike Edgeley, CEO of Clear Group, highlighted Accelerate’s strong broker relationships and technological expertise as key factors in the acquisition. Brown expressed enthusiasm about joining Clear, citing shared values and a mutual commitment to building a specialized MGA for brokers.
“This is another key acquisition for Clear as we build at pace a market leading MGA proposition for brokers. Accelerate has a tremendous reputation among its broker partners which is underpinned by its specialist underwriting and technological capabilities”.
It also has an outstanding management team under the leadership of Scott which has a track record for delivering a great service and strong organic growth which make Accelerate a perfect fit for Clear
Mike Edgeley, Group CEO of the Clear Group
Mandy Hunt, MD Clear MGA said: “The addition of Scott and his team continues to bolster our MGA broker offering, and I’m delighted to welcome them to the Group. They are unquestionably a natural complement to our existing skillset, and together we will continue to develop and strengthen our position in the MGA sector.”
