Warburg Pincus is considering a possible sale of UK insurance broker McGill and Partners, according to people familiar with the matter.
The private equity firm has held early talks with potential advisers to explore options for London-based McGill, the people said, asking not to be identified as the information isn’t public. McGill could be valued at more than $1 billion in a deal, the people said.
A process could start later this year, though Warburg could still opt to keep the business, the people added. A representative for Warburg declined to comment. A representative for McGill also declined to comment, saying the management team is focused on running the company and executing the strategy for long-term growth.
McGill was founded in 2019 by Steve McGill, a former group president of Aon Plc. The firm helps broker insurance for sectors including aviation and aerospace, property and construction, energy, marine and cargo, its website shows. McGill posted revenue growth of more than 20% in the first half of 2025 and an increase of 79% in its adjusted earnings before interest, taxes, depreciation and amortization from the same period in 2024.
Warburg first invested in McGill in 2019. Five years later, it moved the company into a multi-asset continuation vehicle backed by HarbourVest Partners, Ardian and the Canada Pension Plan Investment Board. In September, McGill secured new credit facilities worth $300 million from Morgan Stanley, Permira and Bridgepoint Group Plc, saying it would support its next phase of growth.
Photograph: A commuters crosses Tower Bridge in view of skyscrapers on the skyline of the City of London, UK, on Monday, Dec. 15, 2025. Photo credit: Jason Alden/Bloomberg
Howden US has a “troubling and well-established pattern of unlawfully poaching competitors’ employees and misappropriating confidential information (including detailed client and employee information)—conduct that warrants injunctive relief against defendants,” said Aon. In some cases, such relief has been awarded to Marsh and WTW, and former employees have been order to return confidential information.
Rampersaud had been with Aon since 2022. According to the lawsuit, he met with Howden founder David Howden in London late September to early October and began to allegedly coordinate the mass departure to Howden US. Soon after, said Aon, Rampersaud had “irregular printing activity” of documents containing Aon’s confidential and trade secret information. In the suit, Aon outlines some of Rampersaud’s online search histories, printing of shipping labels, and communication with employees using personal emails.