EQT to Buy Insurance Broker McGill in $2 Billion Deal
By Joe Stonor
EQT has agreed to buy a majority stake in insurance broker McGill and Partners for $2 billion, the Swedish investment group said Friday.
Stockholm-listed EQT will buy out New York-based private equity group Warburg Pincus's stake in the brokerage. The transaction remains subject to approvals, EQT said, and is expected to close in the first half of 2027.
McGill founder and chief executive Steve McGill, who was formerly group president of Aon, will continue to lead the brokerage and will retain "a meaningful ownership stake," EQT said.
The acquisition will lead to a further expansion of McGill, EQT said, including additional recruitment, the group said.
London-headquartered McGill was founded in 2019 with the help of Warburg Pincus. The boutique brokerage specializes in complex policies across a range of sectors including property and aviation, and has offices across seven countries. EQT said it will preserve McGill's independent model.
"To have turned what was merely an idea seven years ago into a $2 billion global specialty enterprise is an achievement we are all incredibly proud of," McGill said.
Write to Joe Stonor at josephmichael.stonor@wsj.com
(END) Dow Jones Newswires
September 04, 2026 08:24 ET (12:24 GMT)
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