Lloyd’s accredited and London headquartered insurance and reinsurance broker Alston Gayler (AG), which has a recognised ILW broking practice, is to be acquired by fellow broker Miller Insurance Services LLP, the London broker majority owned by Willis Towers Watson (WTW).
Alston Gayler (AG) is well-known as a broker in the insurance-linked securities (ILS) fund world, as a broker that places business with ILS funds on an industry-loss and collateralised indemnity reinsurance or retro basis.
Miller said the acquisition of AG will strengthen its offering to clients and also its position as a leading London wholesale and specialist broking platform.
“AG and Miller are aligned in numerous ways, including our client-focussed approach, values, high level of expertise and strategic vision,” commented Greg Collins, CEO of Miller. “We are extremely excited to announce this development and look forward to delivering increased value to our clients through the alliance of our experienced teams.”
Robert Alexander, Managing Director of AG, added, “We have been looking for a partner that shares the same culture and the right platform from which we could continue to offer a high quality service to our clients. We were thrilled to find such an opportunity with Miller and look forward to joining Miller’s highly talented team and continuing to grow together.”
The ILW team of Alston Gayler will provide Miller with an experienced group of brokers who have been responsible for placing a reasonable amount of industry-loss based limit over recent years.
This may fit well alongside Miller’s specialisms in broking non-standard products with bespoke triggers, such as parametric and business interruption solutions, as well as other non-standard reinsurance instruments as well.