Re/insurance broker Miller has appointed Sailesh Divakaram (pictured above) as head of treaty Asia, the company has announced, as it builds out its capabilities in the region.
Divakaram will be based in Miller's Singapore office and report to Richard Broad, head of treaty (Asia Pacific). He joined the company on February 2.
The appointment adds to Miller's expanding Asian presence as the broker seeks to capitalize on growth opportunities in treaty reinsurance, which industry research shows occupies a significant portion of the global reinsurance market due to growing demand for risk sharing among insurance companies.
Divakaram brings more than 30 years of experience across broking, underwriting and risk management. He spent eight years at Gallagher Re as an executive director, where he built out the firm's treaty business in Asia, and previously worked in the treaty division at Guy Carpenter.
In his new role, Divakarem will develop the team serving Miller's client base across the region.
The hire follows the broker's October 2025 appointment of Midori Katayama as head of its Japan desk in Singapore, where she brought more than 14 years of experience in treaty and facultative reinsurance with a focus on the Asia-Pacific market from her previous role at Mitsui & Co. Risk Solutions.
The Asia-Pacific region holds a major share of the global reinsurance market, market research indicates, supported by rapid growth in insurance and reinsurance sectors. China alone accounts for 33% of the Asia Pacific reinsurance market in 2025 and is expected to grow tremendously through 2035.
The global reinsurance market was valued at between $472 billion and $690 billion in 2025 and is projected to grow at a compound annual growth rate of 8.2% to 10.4% through 2030-2035, reaching up to $1.12 trillion, research firms report.
"The Asian treaty market represents a significant growth opportunity for Miller as we continue to build out our global reinsurance capabilities," Broad said, adding that the appointment reflects the company's commitment to the market and investment in industry talent.
Miller's Asia footprint has expanded significantly in recent years. The broker maintains offices in Singapore, London, Ipswich, Brussels, Paris and Geneva, employing over 640 people globally. The Singapore hub, incorporated in November 2007 and licensed by the Monetary Authority of Singapore (MAS), now has capabilities comparable to its London headquarters, senior executives have noted.
The Divakaram appointment follows Miller's 2025 acquisition of AHJ and the launch of Miller Korea as the broker strengthens its regional platform.
Divakaram said working for "a genuine alternative broker with such an experienced team was a hugely attractive opportunity". He added: "I'm excited by our potential to meaningfully enhance the regional treaty market with Miller's global reinsurance capabilities."
