Miller has agreed to acquire independent London market (re)insurance broker, Alston Gayler (AG).

Miller said the deal will “bolster offering to clients and strengthen its position as a leading London wholesale and specialist broking platform”.

The terms of the transaction were not disclosed.

Historically a marine specialist, the London market wholesaler - which is majority owned by Nelson Holdings Limited and employs more than 60 people - now operates across a number of classes, ranging from traditional and specialised reinsurance to property, political risk, aerospace and terrorism.

Commenting on the agreement, Miller CEO Greg Collins said: “AG and Miller are aligned in numerous ways, including our client-focussed approach, values, high level of expertise and strategic vision.”

“We are extremely excited to announce this development and look forward to delivering increased value to our clients through the alliance of our experienced teams,” he added.

Meanwhile, Robert Alexander, AG managing director added: “We have been looking for a partner that shares the same culture and the right platform from which we could continue to offer a high-quality service to our clients.

“We were thrilled to find such an opportunity with Miller and look forward to joining Miller’s highly talented team and continuing to grow together.”