Clear buys GSI Commercial Services

The buy, for an undisclosed sum, is Clear’s 35th acquisition since it was founded in 2001.

Established in 1995, GSI has specialisms in motor fleet, commercial combined, commercial liability and property. It has a team of nine including partners David Bramley-Harker and Terry Charlesworth.

Kent-headquartered GSI handles more than £5.5m of gross written premiums and will move to Clear’s offices in Maidstone in 2023.

Bramley-Harker commented: “We feel very confident about the future of our business now that we have joined forces with the Clear Group. Clear’s distinctive culture along with an exciting growth plan ensures that our staff and clients will be in safe hands moving forward.”

Ambitious plans

Last week, Clear set out a route of acquisitions and organic growth to reach the target of doubling its GWP by the end of 2025 after the Goldman Sachs investment.

The business achieved £260m of GWP in 2021 and has subsequently grown to over over £330m. It is aiming to reach £675m in the next three years.

Mike Edgeley, group CEO of Clear commented: “GSI Commercial Services is another great fit for our business which strengthens our presence across the South East. Bramley-Harker, Charlesworth and the GSI team will certainly enhance and grow our capabilities and help us deliver on our ambitious plans.”

Acquisition timeline

In June this year, Clear bought Yorkshire-based chartered broker ProAktive, which followed the purchase of Centor Insurance & Risk Management.

At the beginning of the year the broker snapped up Kent Insurance Brokers in its first deal of 2022.

Last year Clear bought Luker Rowe and HIA International as well as Anderson White Insurance Broker and HR Jennings.

In 2020, it made its largest deal at the time when it bought Brokerbility and BHIB.

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