Miller Insurance has agreed to acquire London market (re)insurance broker Alston Gayler (AG), which is majority owned by Nelson Holdings.
Alston Gayler is expected to strengthen the offering of Miller Insurance to clients and boost the latter’s position as a London wholesale and specialist broking platform.
The (re)insurance broker specializes in multiple lines of business such as aerospace, cyber risk, marine, political risks, terrorism and others.
It claims to provide reinsurance and risk transfer solutions for some major capital markets operating in the Industry Loss Warranty (ILW) and Insurance Linked Securities (ILS) area.
Additionally, Alston Gayler also places traditional treaty reinsurance programs for Lloyd’s syndicates, London market reinsurers and several blue-chip companies operating across Bermuda, Europe and the US.
The areas of specialty of the (re)insurance broker include property catastrophe excess of loss reinsurance, property risk excess of loss reinsurance, non marine proportional treaty reinsurance, ILW and ILS products, marine excess of loss reinsurance, marine proportional treaty reinsurance and retrocession.
Alston Gayler managing director Robert Alexander said: “We have been looking for a partner that shares the same culture and the right platform from which we could continue to offer a high quality service to our clients.
“We were thrilled to find such an opportunity with Miller and look forward to joining Miller’s highly talented team and continuing to grow together”.
Miller Insurance said that the acquisition reflects its commitment to offer the highest level of client service while expanding its skill set and continuing its strong growth.
Miller Insurance CEO Greg Collins said: “AG and Miller are aligned in numerous ways, including our client-focussed approach, values, high level of expertise and strategic vision.
“We are extremely excited to announce this development and look forward to delivering increased value to our clients through the alliance of our experienced teams.”
The acquisition will be based on receipt of regulatory approval, said Miller Insurance, which did not disclose the financial terms.
Earlier this month, Miller Insurance announced the hiring of Andrew Clydesdale to further consolidate its construction and energy technical expertise.