Private equity firm reportedly weighs $1bn specialty broker sale

Private equity firm Warburg Pincus is considering a potential sale of London-based insurance broker McGill and Partners in a deal that could value the business at more than $1bn (£750m), according to a report by Bloomberg.

The publication reported on 13 January 2026 that Warburg had held early discussions with potential advisors to explore options for McGill and Partners, citing people familiar with the matter.

A formal sale process could begin later this year, although Warburg could also opt to retain the business.

When approached by Insurance Times, a spokesperson for McGill and Partners said: “McGill and Partners declines to comment.”

A spokesperson for Warburg Pincus added: “Please put us down as declined to comment in the article.”

Broker growth

McGill and Partners was founded in 2019 by Steve McGill, former group president at Aon.

The broker operates across a range of specialty and commercial lines, including aviation and aerospace, property and construction, energy, marine and cargo.

Warburg first invested in the broker in 2019 and, five years later, transferred the business into a multiasset continuation vehicle backed by HarbourVest Partners, Ardian and the Canada Pension Plan Investment Board.

McGill and Partners delivered revenue growth of more than 20% in the first half of 2025, alongside a 79% increase in adjusted ebitda compared with the same period in 2024.