Miller records £200m in revenues in second year of independence

Miller records £200m in revenues in second year of independence | Insurance Business Asia

Insurance News

Miller records £200m in revenues in second year of independence

Firm has added over 200 brokers since its independence in March 2021

Insurance News

By
Kenneth Araullo

UK brokerage Miller has rung in its second year of being independent with £200m in total revenues. Since its independence in March 2021, the (re)insurer has added over 200 brokers, with 12 teams launched in 2022 to deliver new product lines and enhance its proposition to existing clients.

Miller CEO James Hands touted the broker’s performance, attributing the firm’s excellent returns to strong organic growth and the acquisition of two businesses.

“This is our first full year after regaining our full independence and I am pleased that we are already demonstrating our ability to deliver accelerated growth, with revenues increasing by nearly 30% since the end of 2020. In 2023 we plan to deliver more of the same, but at an even greater pace,” Hands said in a news release.

The two acquired businesses, Lead Insurance Services and Henner Sports, have also strengthened Miller’s product offering and geographic capabilities. The latter has been renamed Miller Sports & Entertainment, and recently added big tennis name Richard Walmsley to its line-up.

“In the coming year, we will look to capitalize on our strong foundations. Our vision is for Miller to be the specialty partner of choice and at the beginning of 2023 we announced the strategic realignment of our business into two divisions, Miller UK and Miller International, to better support our expansion across the UK, Europe and Asia,” Hands said.

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