Clear buys Centor

London-based Centor was founded by CEO Neil Walton in 2004. It has grown to over £40m of gross written premium with £6m of annual revenue. With a strong presence in the London market the firm’s specialisms include corporate, commercial, real estate and employee benefits business.

Clear detailed that Walton and his team of over 50 experienced professionals “will now work closely with the team at Clear to maximise opportunities to grow the business”.

It is Clear’s second acquisition of the year and the 33rd broker buy since it was established in 2001.

In 2015 Centor scooped up four trophies at Insurance Age’s UK Broker Awards.

The broker took home the prizes in the investment in people and claims team categories as well as the Best Employer trophy leading the judges to vote it the winner of the prestigious Insurance Broker of the Year accolade.

It followed up the haul with more wins in following years including as commercial lines broker of the year and for its claims team.

The deal remains subject to approval by the Financial Conduct Authority.

GWP

Clear bought Brokerbility in September 2020. That purchase took Clear’s GWP up to £200m.

It snapped up Kent Insurance Brokers this January after which group CEO Mike Edgeley revealed the broker’s growth ambitions to Insurance Age setting a target of £300m of GWP by the end of 2022.

Post buying Centor, Clear now handles over £300m in premiums and employs over 550 people across 13 locations.

Reputation

Howard Lickens, executive chairman of Clear Group, said: “Neil and his team have a great reputation for providing a market leading proposition to their clients. The business also has a strong track record in niche areas including property that will complement Clear’s own expertise.”

Walton said: “Although we spoke to many potential buyers, Clear was undoubtedly the best home for our business.

“Its culture, focus on niche markets and opportunities for our staff make it the perfect fit.”

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