Global law firm Clifford Chance has advised international private equity firm Cinven, which today announces that it has agreed to sell its stake in Miller.

Miller is a leading international specialist insurance and reinsurance broker operating across the UK and internationally, supporting clients across a range of specialist areas, including Marine & Energy, Property & Casualty, Sports & Entertainment, Construction, Professional & Financial lines and Reinsurance.

Miller was acquired by the Cinven Strategic Financials Fund and GIC, a global institutional investor, from Willis Towers Watson in March 2021, which Clifford Chance advised on.

The cross practice Clifford Chance team was led by Clifford Chance Global Head of Private Equity Jonny Myers, with support in antitrust, insurance regulatory, hedging, finance and pensions from Partners Sue Hinchliffe, Ashley Prebble, Imogen Ainsworth, Anne Drakeford, Richard Day and Clare Hoxey; with Director, Senior Associates and Associates Martin Kolmar, Nissim Massarano, Phil Sandu, Amelia Bennett and Louise Murray.

Financial details of the transaction are not disclosed. Completion of the transaction is expected at the end of the first quarter of 2024 and is subject to customary regulatory and antitrust approvals.