US private equity firm Warburg Pincus is exploring a possible sale of London-based insurance broker McGill and Partners, Bloomberg reported, citing sources. 

The firm has held preliminary talks with potential advisers to assess strategic options for McGill and Partners, the sources said, requesting anonymity as the discussions are not public.  

The transaction could value the business at more than $1bn, they added. 

A formal sales process may be launched later this year, although Warburg Pincus could also opt to retain ownership.  

A McGill and Partners spokesperson declined to comment, saying the management team remains focused on running the business and executing its long-term growth strategy. 

McGill and Partners was established in 2019 by Steve McGill, previously group president at professional services company Aon.  

The company reported revenue growth of more than 20% in the first half of 2025, alongside a 79% rise in adjusted earnings before interest, taxes, depreciation and amortisation compared with the same period a year earlier. 

Warburg Pincus made its initial investment in McGill in 2019.  

Five years later, the firm moved the business into a multi-asset continuation vehicle supported by HarbourVest Partners, Ardian and the Canada Pension Plan Investment Board. 

In September, McGill secured new credit facilities amounting to $300m from Morgan Stanley, Permira and Bridgepoint Group, saying the funding would support the company’s next phase of growth. 

Last December, Warburg Pincus reportedly considered divesting its 26% stake in Indian insurer IndiaFirst Life Insurance. 

The talks were reported to suggest a valuation of more than Rs100bn ($1.1bn) for the Mumbai-based insurer. 

The stake is held via Warburg Pincus affiliate Carmel Point Investments India.