Clear Group snaps up broker and its AR

Broker Clear Group has acquired the book and assets of Rycroft Associates LLP and its appointed representative (AR) Inspire Credit Management.

Based in Lichfield, Rycroft is a broker that supports UK and European businesses in obtaining trade credit insurance products.

The deal will see the Rycroft team work with Clear’s UK, Ireland and Europe retail businesses to bring credit solutions to its commercial customer base.

“We’re delighted to welcome the Rycroft team to Clear,” Mike Edgeley, group chief executive of Clear, said.

“Our deal with Rycroft exemplifies our continued strategy to support and invest in like-minded brokers with real sector expertise.”

Experience

Rycroft, which currently controls £6.6m in gross written premium (GWP), comprises a team of seven trade credit experts led by director Steve Parsons.

“Steve and his team bring a wealth of experience and knowledge of the credit insurance market, which adds tremendous strength to a specialist vertical as we continue to build and enhance our offering to our commercial customer base,” Edgeley said.

Parsons added: “’We are delighted to be joining Clear Group and look forward to playing our part in its exciting growth journey.

“It was important that we chose a business which understood the strength of our offering, one which is committed to investing in adjacent capabilities and placing value to the customer at the very heart of its proposition. Clear was the outstanding choice in this regard.”