Independent specialist insurance and reinsurance broker Miller is to set up a new platform in Bermuda.

The company said the office will be led by industry veteran Charlie Simpson, who joins Miller as Head of Bermuda.

Miller said Mr Simpson will concentrate on growing the broker’s presence here by launching a high-quality independent offering, initially focused on reinsurance and insurance-linked securities.

A spokeswoman for the company said it has regulatory approval for the move into the Bermuda market, and is at an advanced stage in securing premises in Hamilton.

Miller said that “more key hires” will be announced soon.

Greg Collins, CEO of Miller, said: “Miller is committed to providing best-in-class service and solutions and we continue to hire exceptional people to deliver on our commitments to clients.

“Bermuda was an obvious choice of location for our continued expansion given its excellent reputation. With his considerable experience and market contacts, we are delighted that Charlie has joined us to shape and drive our strategy on the island.”

Mr Simpson said: “I am delighted to join Miller given its excellent reputation and collaborative culture. The opportunity to develop Miller’s strategy in Bermuda is a unique and exciting challenge and I look forward to reconnecting with my contacts on the island and fostering new relationships as we expand our platform.”

The company said Mr Simpson has more than 40 years’ experience in the sector and joins from Aon where he was most recently executive vice-president of non-marine. Prior to that, he held senior positions at Guy Carpenter, R K Carvill, JLT and BMS Reinsurance, Miller said.

The company said Mr Simpson’s appointment signals a major development and continuing commitment to Miller’s growth ambitions following the completion of its acquisition by investor partners, Cinven and GIC.

That acquisition by Cinven, the international private equity firm, and GIC, Singapore’s sovereign wealth fund, from Willis Towers Watson, was announced on March 1.

GIC also has a shareholding in Bermudian-based commercial re/insurer Convex Group Ltd, which was launched in April 2019 by industry veterans Stephen Catlin and Paul Brand.

Founded in 1902, Miller said it operates in the United Kingdom, Lloyd’s and internationally. It employs more than 640 people through its offices in London, Ipswich, Brussels, Paris, Singapore and Geneva. The company said it operates across a number of specialist areas, including marine, energy, credit and political risks, delegated authorities, professional risks, property, casualty, sports and entertainment and re/insurance. Headquartered in London, it said it places about £2 billion worth of premiums annually.