Miller Expands European Reach with Acquisition of Spanish Broker
Specialist re/insurance broker Miller has recently acquired a Spanish specialty insurance and reinsurance broker, Bruzon Correduría de Seguros y Reaseguros S.A., in a move to further expand its European footprint. Miller describes the acquired broker as “excelling” in the structuring and placement of direct and reinsurance risks.
Established in 1990, Bruzon is known for its expertise in facultative reinsurance, accident & health, sports, financial lines, credit, and surety insurance. The Madrid-based broker serves a diverse clientele, including large banks, insurance companies, corporates, and members of the IBEX 35 index.
The acquisition of Bruzon marks Miller’s second Continental European acquisition as part of its strategy to grow its specialty boutique model internationally. The company will now operate under the “Bruzon Miller” brand and collaborate closely with Miller’s teams in the UK, Asia, Bermuda, and various European insurance markets.
James Hands, CEO at Miller, expressed excitement about the expansion, emphasizing the shared vision of creating a preferred broker for clients with complex risk-transfer needs. John Bruzon, founder and CEO of Bruzon, also highlighted the benefits of joining forces with Miller, citing increased resources and a strengthened presence in the Spanish market.
The acquisition is pending regulatory approvals, with completion expected later this year. Both companies are optimistic about the future collaboration and the enhanced range of solutions and services they can offer to global clients.
In conclusion, Miller’s acquisition of Bruzon represents a strategic move to strengthen its position in the European market and provide clients with enhanced risk management solutions. The partnership between the two companies is set to bring added value to customers seeking specialized insurance and reinsurance services.
If you found this article informative, don’t miss out on our daily newsletters for more stories like this directly in your inbox.
