Miller, a prominent independent specialist in the re/insurance brokerage sector, has unveiled a significant reorganization within its Reinsurance division's leadership. Peter Stubbings has been elevated to Chief Executive Officer of Reinsurance, and Gary Masters has been appointed Chairman of Reinsurance. These strategic personnel changes are pending regulatory endorsement and underscore Miller's commitment to advancing its position in the dynamic reinsurance landscape.
Peter Stubbings brings an impressive four decades of experience in reinsurance and retrocession broking to his new role. His extensive background encompasses leadership, profound technical expertise, and enduring client relationships cultivated across major markets including London, Bermuda, the Caribbean, and the Nordics. Stubbings's deep market insights and established network are expected to be instrumental in guiding Miller's reinsurance strategy.
Stubbings initially joined Miller in May 2026, where he took on the leadership of Miller Bermuda as Chairman. In that capacity, he was responsible for fostering the expansion of the firm's reinsurance and retrocession offerings within the Bermuda market. Prior to his tenure at Miller, Stubbings served as CEO of Bermuda for McGill and Partners, a specialized risk solutions and broking firm, starting in 2023. His career also includes a significant period at Aon, where he held the position of CEO of Global ReSpecialty, focusing on global retrocession opportunities, including industry-loss warranties (ILW’s) and capital markets-backed retro products.
In his new capacity as Chairman of Reinsurance, Gary Masters will play a pivotal role in shaping the strategic direction of Miller's business. He will work closely with Stubbings to ensure a seamless transition and continuity in leadership. This collaborative approach is intended to harness their combined experience to drive Miller's overarching business objectives. Miller emphasized that these leadership appointments reflect the firm's considerable momentum, growth trajectory, and ambitious plans, following a period of significant expansion, team augmentation, and strategic acquisitions such as Miller Bruzon, AHJ Miller, and Shields Miller.
The company views this new leadership structure as a critical step in the next phase of its reinsurance growth. The objective is to cultivate a global, specialism-led reinsurance enterprise by integrating Miller's existing capabilities with recent acquisitions. These acquisitions have substantially enhanced the firm's treaty expertise and expanded its geographical reach into key regions including the Nordics, Caribbean, North America, and the MENA region. James Hands, CEO of Miller, expressed his enthusiasm for the new leadership dynamic, highlighting Stubbings's exceptional market experience and Masters's continued strategic contributions. Hands noted the strong momentum Miller has built in reinsurance, attributing it to advancements in teams, capabilities, and international footprint.
The reshuffling of leadership at Miller's Reinsurance division underscores the company's strategic vision for sustained growth and market leadership. With Peter Stubbings assuming the CEO role and Gary Masters transitioning to Chairman, the firm is poised to leverage their combined expertise and extensive industry experience. This move aims to further integrate recent acquisitions and expand Miller's global footprint, solidifying its position as a leading independent specialist re/insurance broker in an increasingly complex risk environment.
