Miller to acquire specialist reinsurance broker AHJ

Independent specialist insurance and reinsurance broker Miller has agreed to acquire AHJ Holdings Ltd (AHJ), the parent company of Alwen Hough Johnson Ltd and AHJ Europe AS.

Established in 1973, AHJ is a specialist reinsurance broker led by Gary Masters and employing 90 people across offices in London and Scandinavia.

They specialize in Property & Casualty (P&C) and Marine & Energy reinsurance, and also handle select niche insurance lines.

This deal, the broker highlights, complements Miller’s reinsurance strategy, which recently included the acquisitions of capital advisory firm 4809 Brokers and leading Spanish re/insurance broker Bruzon, both in 2024.

AHJ brings immediate scale and expertise in treaty reinsurance, while also providing Miller access to their strong presence in the Nordic, Caribbean, and North American treaty business.

James Hands, CEO, Miller, commented: “The acquisition of AHJ is our most significant investment since returning to independence in 2021 and a major milestone for Miller, significantly accelerating our reinsurance strategy. Alongside sharing our commitment to specialism, AHJ is an excellent cultural fit and, like us, their success has been built on a client-first philosophy and desire to develop long-term relationships.

“AHJ will give us an established reinsurance platform from which to drive further growth, including meaningful hiring plans as we seek to attract talent that wants to be part of an independent specialist. We’re delighted that Gary and his team share our aspirations, and are very much looking forward to welcoming our new colleagues.”

According to the announcement, Miller’s acquisition of AHJ is expected to be completed in the second quarter of 2025.

Gary Masters, CEO, AHJ, said: “All at AHJ are proud of the business that has been built over the past 52 years. In Miller we believe that we have identified the ideal partner, one who will enable us to maintain that which has made AHJ distinct, while presenting us with new opportunities.

“We are excited to be able to bring new services to our client base, in particular Miller’s facultative and capital advisory capabilities, in addition to the advantage provided by Miller’s market leading position across many specialty insurance lines throughout the London and International markets.”

He continued: “Miller’s independence and supportive long-term ownership is compelling and something we knew would resonate with both our clients and our colleagues. We now look forward to the integration of our complementary, successful businesses. In brief, we are proud of our past and excited for the future we see together with Miller.”

Shaun Sinniah, Head of Reinsurance and Capital, Miller, added: “The acquisition of AHJ builds on our existing capability in treaty reinsurance, representing a step change in our market footprint and significantly moving forward our strategy.

“We remain committed to building a reinsurance franchise that reflects our specialism-led approach, focusing on segments and accounts traditionally underserved by larger incumbents and supported by excellence in claims, analytics and advisory.”

Miller’s advisory team consisted of Macquarie Capital, Herbert Smith Freehills, and PwC. AHJ was advised by Grant Thornton and Stephenson Harwood.

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