Miller Insurance Services has completed the acquisition of Alson Gayler and Co (AG) in the latest consolidation move involving the marine insurance broker market.
Miller first announced it had reached an agreement to take over AG back in October this year and the deal was finally given the regulatory green light earlier this month.
Both companies are diverse broking houses which are strong the marine market.
Miller and AG cover the hull and machinery, protection and indemnity, cargo and war risk.
Miller’s marine department is headed by Andrew Challacombe, its hull and machinery department is led by Anthony Burnell-Nugent and the P&I desk by Phil Wheeler.
Miller was along with Aon one of two brokers chosen to handle the International Group of P&I Club’s general excess reinsurance contract which was finalized earlier this month.
Miller chief executive Greg Collins said: “The successful completion of this transaction confirms the union of our experienced teams, which already share aligned values, strategic visions and client-focused cultures.
"By combining the strength of our two firms, we can continue to grow together and provide an enhanced suite of services to our valued clients.”
2018 has been an active year for consolidation among insurance brokers with strong marine departments.
In the biggest move Marsh announced it is to take over JLT.
Earlier this month Lockton continued to grow its marine division by taking a 50% stake in Turkish P&I broker Omni Sigorta.
