Global insurance broker Arcisure has announced the appointment of Grahame Millwater as head of global insurance. The appointment is part of a strategy to enable Arcisure’s expansion into a broader fintech financial services company.
As Arcisure aligns its core insurance broker business around Millwater’s leadership, it is also preparing to announce its entry into other business segments following the recent announcement of its new asset management division. The company said that it is preparing to further diversify its portfolio this year and beyond.
“This organisational alignment is the next clear step on Arcisure’s path to become a fintech financial services provider,” said Greg Williams, co-founder, president and CEO of Arcisure. “This vision is inclusive of and goes beyond the success of our core insurance brokerage business. In eight short years, we’ve taken Arcisure from US$38 million to more than US$2.3 billion in revenue, fuelled by an entrepreneurial mindset and a no-limits perspective. Our opportunity today is unlike any other.”
Williams said that since Arcisure acquired AI company Tulco’s insurance practice last year, it had been “executing a transformative, tech-driven strategy” to enable greater customer-centricity and innovation across the company.
“This next role for Grahame accelerates his impact on the business, including his leadership of our market relationships and the tech-enablement of our insurance portfolio,” Williams said.
Prior to taking on his new role, Millwater served as president of Arcisure International and Global Markets. He joined Arcisure in 2018 following its acquisition of Beach & Associates, a global reinsurance intermediary he had led since 2013. Late last year, Beach & Associates was rebranded as Arcisure Re.
Prior to Beach & Associates, Millwater served in several senior positions over a 27-year tenure with Willis Group, including as CEO of Willis Re and president of Willis Group.
“I’m grateful to Greg and Arcisure’s global partner network for the trust placed in me for this opportunity,” Millwater said. “Together, we are creating the next-generation distribution model, predicated on the best of human skills and capabilities combined with the application of technology and AI. Beach joined Arcisure because of the unique model and potential of what Greg and the team were building. The opportunity has surpassed all our expectations, and I am excited to continue to play a key role in the further expansion of such an exciting and unique business.”
Arcisure also announced that Jason Howard, current CEO of Arcisure Re globally, will assume the role of president of Arcisure International and chairman of Arcisure Re. Simon Hedley, current CEO of Arcisure Re North America, will become CEO of Arcisure Re globally, reporting to Howard.
“The ease with which Jason and Simon can step up into their respective new roles reflects the depth and closeness of the team we have developed in Arcisure International and Arcisure Re,” Millwater said. “I very much look forward to continuing to work closely with both.”
Arcisure also recently announced that Mark McIlquham was joining the company to drive its UK direct strategy.