Independent specialist re/insurance broker Miller has released its financial results for the full year 2024, reporting total revenues of £271 million, a 13% increase from 2023
Miller said that 12% of that growth can be attributed to organic expansion.
For the year ending Dec. 31, 2024, the company's EBITDA margin remained above 30% despite significant investments in personnel, technology, and operational capabilities. Miller placed approximately US$4 billion in gross written premium (GWP) during the year.
In the previous year, the company also reported a record revenue of £240 million, marking a 26% increase from 2022.
The firm also expanded its workforce in 2024, adding more than 200 employees, bringing its total headcount to over 1,100. These hires supported the launch of new products and teams across multiple areas, including real estate, European nuclear risks, transactional risks, marine, North American casualty, and specialty reinsurance.
Miller also continued to expand its international presence, opening a new office in Korea and extending its Japanese operations into non-marine lines. The broker also strengthened its European platform with the acquisitions of 4809 Brokers in Switzerland and Bruzon in Spain.
Additionally, it announced the acquisition of reinsurance broker and treaty markets specialist AHJ after the reporting period.
The firm’s retail specialty business now accounts for 30% of its total revenue, reflecting ongoing growth in that segment. Miller also completed an investment agreement with GIC, making the sovereign wealth fund its majority shareholder in the first quarter of 2024.
Alongside its financial results, Miller also introduced a new brand and visual identity under the tagline “Go Be Great,” with CEO James Hands (pictured above) noting that the rebrand emphasizes the firm's client-first approach and its role in supporting clients' ambitions.
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