The firm’s entrance into the world’s largest (re)insurance market reflects continued strong momentum and organic growth.
New York – 12 July, 2022 – McGill and Partners, the global boutique specialist (re)insurance broker, has expanded its operations in the US and opened its US HQ in New York. The announcement follows two years of strong international growth for the firm, including significant high profile client wins, notwithstanding the challenges of a global pandemic and ongoing global market uncertainty.
McGill and Partners was founded in May 2019, following significant financial backing from Warburg Pincus, one of the oldest private equity firms in the world. Since then, the firm has driven one of the most ambitious talent acquisition strategies the broking world has ever seen and has become a destination of choice for some of the brightest talent in the industry.
McGill and Partners has grown rapidly to 428 colleagues globally serving over 400 client accounts, whilst placing circa $3bn of gross written premium into the London and international markets in 2021. The company is one of the fastest growing specialty (re)insurance brokers in the world, with revenues of $60m in 2020; $123m in 2021; and is on target to exceed 65% organic revenue growth for the first half of 2022 with strong momentum for the full year.
As it continues its rapid expansion, the Company has announced the appointment of Joe Trotti as President and Warren Mula as Executive Chairman of the US operations. With more than 30 years’ industry experience in leadership positions with AIG, Willis and JLT, Trotti is an expert in developing bespoke (re)insurance solutions. He will assume the role of President alongside his duties as Global Head of Aviation & Aerospace.
Mula joined McGill and Partners after 40 years’ service with Aon, having previously served as President of Aon Risk Solutions and CEO of Aon Broking.
Trotti and Mula, will be responsible for leading the US business alongside Steve McGill (Group CEO) who will hold the additional position of Acting US CEO.
“We are excited to bring a unique and flexible partnership model to the world’s largest (re)insurance market and to be a disruptor in this space. We operate as one team internationally, navigating the entire (re)insurance value chain to deliver highly effective risk transfer solutions to the most sophisticated clients.
“With Joe and Warren leading our US operations, we have two noted industry figures, with decades of specialist broking expertise, who will build out our team whilst reinforcing our unique culture and practitioner led offering,” said Steve McGill, Founder and CEO of McGill and Partners.
“We believe the US market will find McGill and Partners’ customized approach to be a refreshing change. We were established under the principles of doing things differently. We are selective in the clients we work with and the firms we partner with. We are proud of what we don’t do and will continue to live by our commitment to focus ‘narrow and deep’ in our specialist areas of expertise.” said Joe Trotti.
“Our culture is what sets us apart right from the get-go. We believe in being an undivided team, working flexibly with clients and strategic partners to find solutions to the most complex and challenging needs. Wherever the talent exists, the solution exists. All colleagues are owners in the business, which reinforces our colleague centric approach focused on delivering the best results possible for our clients.” said Warren Mula.
James O’Gara, Managing Director at Warburg Pincus commented: ‘The progress made since McGill and Partners was founded in 2019 has been beyond our most positive expectations. It is remarkable that in only three years from start-up, the firm has grown to become a major player in the highest tier of the industry, with a proposition that has clearly resonated with top clients and talent. The firm’s expansion into the US marks an important next step for the business as it expands its support for clients and works in partnership with other high quality brokerage firms and insurers in the largest (re)insurance market in the world.”
McGill and Partners is licensed to operate in all 50 US states. With its newly opened US headquarters, located in Rockefeller Plaza, in New York City, the US operations consists of 60 experienced professionals. They specialize in Property, Aviation & Aerospace, Marine & Cargo, Financial Lines (D&O, M&A, Cyber), Structured Solutions, Facultative and Treaty Reinsurance.
McGill and Partners is focused on the larger clients and/or clients with complex and/or challenging needs. This client base, which is predominantly being served by the global brokers, is typically highly sophisticated and is looking for alternative options, particularly in the design, structuring and placement of their (re)insurance needs. McGill and Partners provides customized solutions to this segment and, dependent upon client need, works in partnership with other leading high-quality brokerage firms and/or (re)insurers to provide superior solutions and services to these clients. McGill and Partners has a one-team approach that includes an industry leading capital intermediation model that has McGill and Partners accessing the entire (re)insurance value chain to deliver exceptional results to clients.
The opening of its US headquarters is part of McGill and Partner’s ambitious plans to grow its client base in the world’s largest (re)insurance market. The New York City office complements McGill and Partners’ operations in other leading (re)insurance markets, including London and Bermuda.
About McGill and Partners
McGill and Partners is one of the fastest growing boutique (re)insurance brokers in the world. It was launched in 2019 and the firm has significant backing from funds affiliated with Warburg Pincus, a leading global private equity firm. McGill and Partners has centres of excellence in London and New York with a presence in the UK, the US, Ireland and Bermuda. McGill and Partners is licensed to place business in all 50 states, on a direct, surplus lines and reinsurance basis with its US headquarters located in the Rockefeller Center, in New York City.
For further information, please visit www.mcgillpartners.com
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