GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Acrisure, already a top-10 global insurance broker, is putting in place the operational and strategic elements to enable the Company’s expansion into a broader fintech financial services company. Accordingly, today the Company announced that Grahame Millwater will assume the new role of Head of Global Insurance, effective immediately.
As the Company aligns its core insurance broker business around Millwater’s leadership, it is preparing to announce entry into additional business segments, following the recent announcement of a new Asset Management division. Acrisure is poised to further diversify its portfolio in 2021 and beyond.
“This organizational alignment is the next clear step on Acrisure’s path to become a fintech financial services provider. 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,” said Greg Williams, Co-Founder, President and CEO of Acrisure.
“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 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.
“I’m grateful to Greg and Acrisure’s global Partner network for the trust placed in me for this opportunity,” said Millwater. “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.”
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.
Additional Changes Announced
As part of this announcement, Jason Howard, current CEO of Acrisure Re globally, assumes 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.
“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,” said Millwater.
It was also recently announced that Mark McIlquham is joining Acrisure to drive the UK direct strategy.
About Acrisure
As one of the world's top 10 insurance brokerages and the fastest growing in the world, Acrisure provides a broad array of insurance and financial related solutions, including commercial property and casualty, personal lines and employee benefits insurance and Asset Management products and services. Find out more at www.acrisure.com.
