Miller, the London-based independent specialist re/insurance broker, announced the acquisition of reinsurance capital advisory business 4809 Brokers AG.
Financial details were not disclosed.
As its third Continental European acquisition since 2022, Miller said, the transaction forms part of its continued international expansion, while also bolstering its growing reinsurance capabilities.
Established in 2020 by Marc Hannebert and Benjamin Bourseau, 4809 Brokers offers advisory services on insurance transactions intended to achieve capital relief, including alternative risk transfer and liability side investment transactions, as well as portfolio transfer solutions such as reinsurance to close (RITC) transactions.
Its client base includes reinsurers, banks, funds and private equity firms, and it is currently based in Zug, Switzerland, with the intention to build out a Zurich hub for placement across direct, wholesale and facultative lines.
The transaction follows Miller’s acquisition of Madrid-based commercial insurance broker Bruzon Correduría de Seguros y Reaseguros, which was announced in May.
“As Miller continues to grow in both scale and international footprint, we see an opportunity to meaningfully expand our reinsurance capabilities and establish a franchise that enables clients to benefit from our leading direct specialist footprint, our commitment to stability, and our partnership approach,” Miller CEO James Hands commented in a statement.
“The business that Marc and Benjamin have built at 4809 Brokers is highly complementary to those ambitions, and we’re delighted to be bringing their expertise on board as we continue to expand our presence across the UK, Europe and Asia,” Hands added.
“4809 Brokers is a highly specialised business built upon strong relationships with key market participants and a deep understanding of their needs and challenges,” said Shaun Sinniah, head of Reinsurance and Capital at Miller.
“Their approach is aligned to our desire to focus on solution areas underserved by the large incumbents; it’s a pleasure to be working with Marc and Benjamin, whose expertise will prove invaluable as we continue to craft solutions that not only meet, but also anticipate, the evolving demands and ambitions of clients,” Sinniah continued.
“After four highly profitable years at 4809 Brokers, we are delighted to join Miller. With their support, we will continue to provide the re/insurance industry with our unique proposition of cutting-edge solutions, situated at the intersection of the banking and insurance sectors as well as our solutions to support M&A transactions in the sector,” according to Marc Hannebert, managing partner at 4809 Brokers. “We believe that being part of Miller will foster our development and enable our clients to benefit from its long-term stability and sterling reputation as a leading specialist adviser of choice.”
Source: Miller
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