Miller to acquire AHJ Holdings, expanding reinsurance capabilities

Deal bolsters firm's presence in key treaty markets

Miller to acquire AHJ Holdings, expanding reinsurance capabilities

Reinsurance

By Kenneth Araullo

Independent specialist re/insurance broker Miller has announced an agreement to acquire AHJ Holdings Ltd, the parent company of Alwen Hough Johnson Ltd and AHJ Europe AS.

The transaction is expected to close in the second quarter of 2025, pending regulatory approvals.

AHJ, founded in 1973, operates as a specialist reinsurance broker with 90 employees across London and Scandinavia. The firm focuses on reinsurance across property and casualty, as well as marine and energy, while also placing business in select niche insurance lines.

The acquisition aligns with Miller’s broader reinsurance strategy, following its 2024 acquisitions of capital advisory business 4809 Brokers and Spanish re/insurance broker Bruzon.

In addition to increasing Miller’s treaty reinsurance capabilities, the deal will provide access to AHJ’s established business in the Nordic, Caribbean, and North American treaty markets.

Miller CEO James Hands (pictured above) described the acquisition as a significant investment since the firm returned to independence in 2021.

“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,” Hands said.

Hands added that AHJ shares Miller’s focus on specialization and long-term client relationships. He noted that AHJ’s platform will support additional hiring as Miller seeks to attract talent interested in working with an independent specialist.

AHJ CEO Gary Masters said the firm is proud of the business it has built over the past 52 years and believes Miller is the right partner.

“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,” Masters said.

Masters added that Miller’s independence and long-term ownership structure are well-aligned with AHJ’s clients and employees.

Shaun Sinniah, head of reinsurance and capital at Miller, said the acquisition represents a step forward in the firm’s reinsurance 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,” Sinniah said.

Macquarie Capital, Herbert Smith Freehills, and PwC advised Miller on the transaction. AHJ was advised by Grant Thornton and Stephenson Harwood.

What are your thoughts on this story? Please feel free to share your comments below.

Keep up with the latest news and events

Join our mailing list, it’s free!