Earlier this year, the independent specialist re/insurance broker Miller affirmed its international expansion ambitions with the acquisition of 4809 Brokers AG, its third Continental European deal since 2022.
Sharing insights into Miller’s agenda Shaun Sinniah (pictured right), head of reinsurance and capital at Miller, highlighted that bolstering its growing reinsurance capabilities is a core pillar of its strategy. “We see a real opportunity to meaningfully expand our reinsurance capabilities in line with Miller’s broader growth ambitions,” he said. “We are focused on selectively building out a differentiated reinsurance offering through our international hubs.
“In particular, we have a very strong focus on providing solutions for clients and segments that we think have been underserved by the larger players. Fundamentally, our approach to growth is led by our clients. We want to increase scale where it will allow us to get nearer to our customer or offer better products and services to them.”
Ultimately, he said, Miller’s mission is to deliver exceptional service by attracting and nurturing top talent, while forging lasting strategic partnerships that drive mutual success. Commenting on how the acquisition of 4809 Brokers AG ties into this mission, he noted that a key part of its reinsurance strategy is around the growth opportunities it sees in the value-add and advisory parts of the market. The deal has not only helped Miller to expand its strategic advisory capabilities but also to enhance its ability to deliver tailored reinsurance solutions.
“The team at 4809 Brokers - now known as Miller - are specialists in 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,” he said. “This specialist approach and unique proposition aligns perfectly with our own focus on specialism and service and allows us to continue to reach more clients in key markets.”
There are several key factors that Miller considers when acquiring a business, he said, and the first is the need for complementary expertise. “We want businesses with specialised skills or market knowledge that enhance Miller's existing capabilities and can provide a more holistic solution for clients.”
The second consideration is cultural alignment, he said, as it is integral that any acquired business is a strong cultural fit with Miller's values, including a commitment to client service, innovation, and collaborative working practices. Last but not least, market expansion opportunities are a pressing factor behind any M&A transaction. “We look for opportunities to enter or strengthen Miller’s presence in key regions or lines of business, led by where our customers are and what they need.”
Zeroing in on Miller’s reinsurance strategy, he highlighted that it is focused on expanding its capabilities in several key areas across both geography and product. This includes strengthening its presence in high-growth regions such as Asia, Latin and Central America, and the Middle East, where demand for reinsurance solutions is increasing.
“We also focus on expanding into niche and specialty lines, given Miller’s longstanding reputation here in the wholesale and retail spaces, such as cyber risk, A&H, Marine & Energy, and non-traditional perils, where expertise and innovative solutions are crucial,” he said. “This includes growing our expertise in non-conventional reinsurance solutions, including adverse development cover (ADC), Liability Side Investment (LSI) & Significant Risk Transfers (SRTs) to offer clients more flexible risk transfer options.”
In addition, he said, Miller will continue to focus on enhancing its capabilities in traditional reinsurance lines such as casualty and property, to offer more comprehensive solutions to clients. “Finally,” he said, “deepening relationships with our clients and forming strategic partnerships will always be a fundamental part of our strategy and is the backbone to much of what we do, co-developing innovative reinsurance solutions that align with evolving market needs.”
Getting the right blend between organic and inorganic growth is a delicate balancing act, and for Sinniah and his team, the focus has to be on growing where it makes the most sense for clients. Generating organic growth comes down to fostering strategic partnerships with clients and markets alike, he said, while also expanding service offerings, and developing tailored solutions that meet evolving needs. This is supported by continual investment in talent and technology to stay ahead of market trends.
“When pursuing acquisitions,” he added, “Miller is highly selective, targeting businesses that complement our existing strengths and provide new capabilities, market access, or client synergies. We take a long-term view, ensuring that both organic initiatives and inorganic acquisitions contribute to sustainable growth. This means focusing not only on immediate gains but also on building lasting value for clients and partners.”
Looking ahead to what is at the top of the agenda going into 2025, he noted that as the reinsurance market gears up for January 1 renewals, Miller is focused on ensuring exceptional service delivery to clients. Post Monte Carlo, and Hurricane Milton, the team is working closely with clients to assess evolving risk landscapes, develop tailored reinsurance strategies, and secure optimal terms in a competitive market.
“With recent acquisitions and strategic hires, we are also focused on ensuring a smooth integration of new colleagues into Miller’s culture,” he said. “Looking beyond this, we always have an eye on long-term growth and expanding our capabilities in regions and product lines, which includes investing in technology, analytics, and talent.”
