Insurance firm on the hunt for new office

Miller Insurance is has begun a search for a new office in London’s insurance district ahead of expected growth through recruitment and M&A activity. Currently based in Korea Investments & Securities’ 70 Mark Lane, EC3, the company is looking for 100,000 sq ft ahead of the end of its lease in 2029. It has appointed Allsop to lead the search, which would be an increase on its current footprint of around 57,000 sq ft. It originally prelet half of the building, amounting to 85,000 sq ft, in 2012. Miller signed a management agreement with flex operator Orega for 28,000 sq ft of its space at 70 Mark Lane on the first and second floors. Miller has since discussed the possibility of taking back some space from Orega, according to people familiar with the discussions. It comes after investor GIC acquired a majority stake in the firm from Cinven last year. The pair initially invested in the company in 2021. In Miller’s most recent accounts for the year ending 31 December 2023, chief executive James Hands said: “The partnership between GIC and independent Miller equity holders supports plans for significant growth.” This, he said, would be achieved through “organic growth”, which would include strategic hires and acquired growth through M&A. Miller Insurance, Orega and Allsop declined to comment.