Miller announces record results for 2024 alongside launch of new brand

Results driven by strong organic growth, while new brand celebrates Miller’s uniquely client-centric model.

Miller, the leading independent specialist (re)insurance broker, today announces its results for the year ended 31 December 2024.

Key highlights 

• Total revenues of £271 million, a 13% increase on 2023, driven almost entirely by 12% organic growth 
• Group EBITDA margin remains in excess of 30%, even after significant investment in teams, technology and capabilities
• Total Gross Written Premium (GWP) placed of c. $4 billion
• Over 200 new joiners during 2024, with total headcount now in excess of 1,100, including new products, capabilities and teams for Real Estate, Europe Nuclear Risks, Transactional Risks, Marine, North American Casualty and Specialty Reinsurance teams
• Continued build out of international footprint with opening of a new office in Korea and expansion of Japanese business into non-marine lines
• Completed the acquisitions of 4809 Brokers in Switzerland and Bruzon in Spain to further develop European platform; acquisition of specialist reinsurance broker AHJ announced post-period end
• Continued successful growth of retail specialty business, now representing 30% of total revenue 
• Closed GIC’s investment to become majority shareholder in Q1 2024

“Putting clients at the heart of our new brand” 

Miller has also today unveiled its new brand and visual identity, built around a new brand line ‘Go Be Great’. 

“Our new brand is about putting clients at the absolute centre of everything we do. We are truly passionate about the role insurance can play as an enabler of greatness and, at a time when much of our market is looking inward, distracted by consolidation and change, Miller’s renewed commitment to clients coming first is more relevant than ever. For over 120 years we’ve been finding the right solutions for our clients and matching their ambition every step of the way. Our new brand truly reflects the spirit of Miller – innovation, energy, and above all, trust.” James Hands, CEO, Miller. 

The new brand identity, which can be seen on Miller’s new website www.miller-insurance.com, also reflects Miller’s entrepreneurial culture, growing international footprint and increasingly diversified business across retail, wholesale and reinsurance. 

Commenting on Miller’s results, James Hands, said: “2024 was another record year for Miller as our business continues to go from strength to strength. We started the year with increased momentum, as the completion of GIC’s investment secured our long-term future as the independent specialist partner of choice. 

I am particularly pleased that our record result was driven primarily by our organic growth, reflecting our unparalleled focus on building a business with client service at its core. This philosophy saw us continue to attract some of the industry’s best talent, with over 200 people joining Miller last year, as we continued to build out our product offering, geographic footprint and customer reach. 

The second half of the year also saw us successfully deliver on our M&A strategy, with the acquisitions of 4809 Brokers and Bruzon, and at the start of 2025 we announced the acquisition of AHJ. Together, these deals will significantly move forward our reinsurance strategy which we expect to be a key pillar of future growth, having identified strong market demand for an agile, niche and advisory-led alternative. 

Today we are also proud to be launching our refreshed brand, capturing what makes Miller so special: making things possible for our clients by empowering our people. We are building something for the long-term, and 2025 will see us continue to attract talent, explore accretive M&A and expand our international footprint. All this is underpinned by our confidence in the opportunities there are for Miller as we double down on our position as the broker of choice for those seeking independence, specialism and service.”