Miller completes acquisition of specialty re/insurance broker Bruzon

Miller has completed the acquisition of Madrid-based commercial re/insurance broker Bruzon Correduría de Seguros y Reaseguros.

The transaction closed on September 30 following the receipt of all necessary regulatory approvals.

Established in 1990, Bruzon is described as “one of Spain’s leading insurance brokers”, focused on the structuring and placement of direct and reinsurance risks.

The transaction marks Miller’s third Continental European acquisition in the past two years.

The completion follows the announcement of Miller’s acquisition of reinsurance capital advisory business 4809 Brokers in June.

The broker said it “underscored its commitment” to expanding across the UK, Europe and Asia, building out its reinsurance offering.

“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,” said James Hands, CEO, Miller.

“I am delighted to be expanding our already strong relationship with Bruzon and bringing our expert capabilities to a greater number of clients,” Hand said.

The company will trade under the “Bruzon Miller” brand.

Miller having been a minority shareholder of Bruzon prior to 2015. Bruzon’s 32 staff will continue to be led by its founder and CEO John Bruzon.

John Bruzon added: “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. 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.”