Leading global law firm Herbert Smith Freehills has advised Willis Towers Watson on the sale of specialist insurance and (re)insurance broker Miller to Cinven, the international private equity firm, and GIC, Singapore’s sovereign wealth fund. The transaction is expected to complete in Q1 2021 and is subject to regulatory approval.
Herbert Smith Freehills acted for Willis Towers Watson on the deal. The Herbert Smith Freehills team was led by senior associate Sophie Thompson and the firm’s Willis Towers Watson relationship partners Gavin Davies and Barnaby Hinnigan. Other team members included Ryan Sheridan, Nadine McMahon, Damien Coruzzi, together with Isaac Zailer and Josh Lom (tax), Kim Dietzel and Tom Kemp (anti-trust) and Clive Cunningham and Katie McGrory (regulatory).
Gavin Davies, who heads the firm’s M&A practice, commented: “Willis Towers Watson is a key client of our firm, and we were pleased to help achieve this outcome. It is a busy time for deals for our clients at the moment, notwithstanding all of the disruptions of 2020."
Barney Hinnigan added: "It has been great to work with the teams at Willis Towers Watson and Miller again. We have seen consistently strong transactional activity across financial services in 2020. Insurance intermediaries, wealth managers and fintechs have been particularly active with M&A and fundraising, and this transaction continues that trend."
Clifford Chance is acting for Cinven. Addleshaw Goodard is acting for the Miller partners.