Specialist reinsurance broker Miller has agreed to acquire Bruzon Correduría de Seguros y Reaseguros (Bruzon), a Spanish commercial insurance and reinsurance broker.

The financial terms of the deal were undisclosed.

The move marks Miller’s second acquisition in Continental Europe, as it continues to build its specialty boutique model internationally.

Established in 1990, Bruzon is engaged in structuring and placing direct and reinsurance risks. It serves a large client base that includes banks, insurance companies, corporates, and members of IBEX 35, Spain’s stock exchange.

The company offers a wide array of insurance solutions, particularly in facultative reinsurance, accident and health, sports, financial lines, credit, and surety insurance.

Bruzon’s consultancy arm Bruzon Services focuses on financial advisory and structuring.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Miller CEO James Hands said: “This is an exciting time for Miller as we continue to expand our presence across the UK, Europe and Asia.

“Bruzon has an outstanding reputation in Spain and shares our vision to create the broker of choice for clients with complex risk-transfer needs and for talented brokers to pursue their passion. Together we can broaden the spectrum of solutions and services available to our global clients.”

Bruzon founder, chairman and CEO John Bruzon will continue to lead the company’s 32 employees.

They will work in close collaboration with Miller’s team of more than 900 staff spread across the UK, Asia, Bermuda, and other European markets such as France, Belgium, and Switzerland.

Upon completion of the transaction, Bruzon will operate under the “Bruzon Miller” brand, reflecting a longstanding partnership, with Miller having previously been a minority shareholder in Bruzon before 2015.

Pending regulatory approvals, the acquisition is due to close later this year.

In March, Miller launched a dedicated global team to enter the parametric insurance arena.

The new team focuses on the application of parametric insurance across various industries.