Clearwater International advises MBC Insurance on its major investment from the Clear Group
Clearwater International has advised McAuliffe Barry & Collins Ltd (trading as MBC Insurance and Techinsure.ie), a market leading insurance broker specialising in commercial insurance, on its significant investment from the UK based insurance broker, the Clear Group.
This is the Clear Group’s first investment into the Irish market, where it has ambitions to grow its presence. Last year it attracted major investment from Goldman Sachs, to support expansion into new markets through targeted M&A activity.
The executive management team led by Managing Director, Des Murphy, Directors, Shane Sullivan and Brían McMahon and Chairman, Denis Collins, are reinvesting a significant portion of their proceeds into the Clear Group. The team will stay in the business, remaining fully committed to driving the future growth and strategic development of both MBC and the Clear Group in Ireland.
Celebrating its 40th anniversary last year, MBC Insurance is one of Munster’s longest standing insurance brokers, having built an outstanding reputation in its sector. The company provides a comprehensive insurance offering to over 5,600 clients nationwide. MBC specialises in a variety of commercial insurance types such as business insurance, plant & access machinery hire, tool & equipment hire, and forklift hire insurance. In addition, MBC offers a wide range of IT insurance through its well-established Techinsure brand including cyber insurance, IT consultant insurance, and website & software developers insurance.
Established in 2001, the Clear Group is an independent chartered insurance broker, handling premiums of £350m and employing over 650 people across 15 locations. The company focuses on the UK corporate and SME market, with strong expertise in niche insurance verticals including property, financial lines, technology, and construction.
MBC is well positioned to achieve its strategic targets and help the Clear Group grow its presence in Ireland. It plans to leverage its new relationship with the Clear Group to grow market share, both organically and through acquisitions.