News
Clear Group, the independent insurance intermediary group, has acquired Newman Pearce & Partners LLP (NPP), a specialist Lloyd’s wholesale broker. Law firm Thomson Snell & Passmore advised the partners of NPP on the transaction.
Founded in 2019 by Gordon Newman, Neil Pearce and Colin Rogers, NPP is an independent Lloyd’s wholesale broker providing specialist broking services to retail brokers and coverholders seeking access to the Lloyd’s market. Headquartered in London, the business has established expertise across Global Specialty, International Liability, Construction, Offshore Marine Liability and Specialist Property.
NPP has built an international business, with approximately 95% of its portfolio originating from overseas markets. Its core territories include Canada, Australia and the United States, alongside established distribution relationships across Turkey, Africa and India. The business has experienced significant growth in recent years.
Clear already has an established wholesale presence through Lilley Plummer Risks Ltd and the addition of NPP significantly broadens both the Group’s specialist capabilities and its international footprint, expanding Clear’s reach into territories including Canada and Australia.
NPP will continue to operate from its London office, working closely with Clear’s existing wholesale businesses whilst continuing to support its retail broker and coverholder partners.
Neil Pearce, CEO and co-founder of NPP, commented: “Since founding the business in 2019, we’ve focused on building a specialist Lloyd’s wholesale broker with strong technical expertise and international reach. Joining Clear represents an exciting next chapter, giving us access to additional resources while preserving the entrepreneurial culture and specialist focus that have underpinned our success. We look forward to working with our new colleagues to continue delivering exceptional service for our broker partners and clients.”
Jason Varney, Partner in the Corporate M&A team, led the transaction at Thomson Snell & Passmore. He was supported by Joseph Hartland, Senior Associate in the Corporate M&A team. Due to the nature of the transaction, the transaction required a multidisciplinary project team, which included Jack Pavey (Associate, Corporate M&A); Athene Charlton (Solicitor, Corporate M&A); Alex Lewsley (Partner, Real Estate); Anthony White (Associate, Real Estate); Ben Stepney (Partner, Employment); and Nitzan Cohen (Consultant, Corporate Tax).
Jason Varney, Partner at Thomson Snell & Passmore, noted: “This deal was a pleasure to work on and highlights the breadth and strength of our Corporate M&A team and wider commercial group, as well as our experience advising on transactions in the insurance sector. NPP has built an impressive specialist business with an outstanding reputation in the Lloyd’s market and a truly international reach. It was a pleasure to support the partners on this important transaction, and we wish the whole team every success as they continue their growth journey as part of the Clear Group.”
Colin Rogers, CEO and co-founder of NPP, commented: “I would especially like to thank the legal team at Thomson Snell & Passmore. Their help and support was much appreciated in bringing this deal to fruition. They were straightforward and concise, with strength in depth and always available when needed. I doubt we could have found better. They were a pleasure to work with.”
