Acrisure poised for further expansion as it revamps top leadership
Acrisure has aligned its core insurance broker business around the leadership of Grahame Millwater, in a bid to expand and transform itself into a broader fintech financial services company.
Acrisure said it is poised to further diversify its portfolio in 2021 and beyond. The broker is preparing to enter into additional business segments, following the recent launch of a new asset management division.
The company has appointed Millwater as new head of global insurance. He most recently served as president of Acrisure International and Global Markets and joined Acrisure in 2018, following the acquisition of Beach & Associates, a global reinsurance intermediary that he led from 2013. In late 2020, Beach & Associates became Acrisure Re fully representing Acrisure’s reinsurance broking and corporate risk advisory division.
Prior to Beach & Associates, Millwater served in several senior positions over a 27-year tenure with Willis Group. He was CEO of Willis Re from 2004, and then became President of Willis Group in 2008 with responsibility for all the global and international businesses outside North America.
Additionally, the company has appointed Jason Howard, current CEO of Acrisure Re globally, to the role of president, Acrisure International and chairman of Acrisure Re. Simon Hedley, current CEO of Acrisure Re North America, will become CEO of Acrisure Re globally, reporting to Howard, subject to regulatory approval in the UK. Mark McIlquham is joining Acrisure to drive the UK direct strategy.
“This organisational alignment is the next clear step on Acrisure’s path to become a fintech financial services provider," said Greg Williams, co-founder, president and CEO of Acrisure. "This vision is inclusive of and goes beyond the success of our core insurance brokerage business. In eight short years, we’ve taken Acrisure from $38 million to more than $2.3 billion in revenue, fueled by an entrepreneurial mindset and a no limits perspective. Our opportunity today is unlike any other.”
Williams added: “Since our 2020 acquisition of AI leader Tulco, LLC’s insurance practice, we’ve been executing a transformative tech-driven strategy enabling greater customer-centricity and innovation across a global distribution footprint. With advanced data and analytics fueled by AI, we have identified unmet customer needs we are not presently serving. This strategy has already led to the announcement of a new Asset Management division and there will be others that follow. 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.”
Millwater commented: “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 Acrisure 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.”
“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 Acrisure International and Acrisure Re. I very much look forward to continuing to work closely with both,” he added.
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