The acquisition follows Miller’s recent purchase of 4809 Brokers, a reinsurance capital advisory firm, in June and is part of Miller’s ongoing global expansion strategy.
The deal, initially announced in May, was completed on September 30 following regulatory approval. While financial terms of the transaction were not disclosed, it marks Miller’s third Continental European acquisition in the past two years.
Bruzon, founded in 1990, is a prominent Spanish insurance broker specialising in structuring and placing direct and reinsurance risks. The acquisition aligns with Miller’s strategic expansion plans in the UK, Europe, and Asia, and its commitment to strengthening its reinsurance offerings.
To reflect the long-standing partnership between the two companies, the combined entity will operate under the name “Bruzon Miller.” Miller has been a minority shareholder of Bruzon since prior to 2015. Bruzon’s 32 employees will continue to be led by its founder and CEO, John Bruzon.
James Hands, CEO, Miller, said: “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,” commented. “I am delighted to be expanding our already strong relationship with Bruzon and bringing our expert capabilities to a greater number of clients.”
Bruzon also commented, saying: “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 prioritise providing excellent solutions and services,”.
He added: “Miller has a special culture, shares the passion we have for our clients and celebrates the same entrepreneurial approach we do. We can’t wait to partner with our new colleagues.”
