Reinsurance
Miller expands European operations with Bruzon purchase
The company’s third European M&A deal in two years
Reinsurance
By
Mav Rodriguez
In its latest move to strengthen its presence across Europe, Miller has completed the acquisition of Bruzon Correduría de Seguros y Reaseguros, a leading commercial insurance broker based in Madrid. The transaction was finalized on Sept. 30 after receiving regulatory approvals, marking a significant step in Miller’s strategy of expanding its footprint in Europe and beyond.
Established in 1990, Bruzon specializes in the structuring and placement of both direct and reinsurance risks. This acquisition is the third for Miller in Continental Europe over the past two years, aligning with the company’s goals to enhance its reinsurance offerings across the UK, Europe, and Asia.
“Our ambition is for Miller to be the scale international partner of choice across our leading specialty offering, and the completion of this acquisition marks another stage in that journey. I am delighted to be expanding our already strong relationship with Bruzon and bringing our expert capabilities to a greater number of clients,” Miller CEO James Hands said.
Following the acquisition, the company will operate under the name “Bruzon Miller” to reflect the long-standing relationship between the two firms, with Miller having held a minority stake in Bruzon since before 2015. The 32-member team at Bruzon will remain under the leadership of its founder and CEO, John Bruzon.
“It is a pleasure to be working with Miller and to be joining them on their international growth trajectory. Together we can bring specialist solutions to clients in both the Spanish market and globally, as we continue to prioritize providing excellent solutions and services,” Bruzon said.
This acquisition builds on Miller’s international expansion, coming just months after its purchase of 4809 Brokers – a reinsurance capital advisory business – in June.
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Publish date : 2024-10-01 08:22:00
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