Willis Group Holdings Plc will snatch up a broker in Taiwan, nearly doubling the size of its existing business in the country.
Acquiring Elite Risk Services Limited of Taiwan will also give Willis stronger client offerings to larger accounts. Marine and technology and the media & telecoms sectors will particularly benefit from this, Willis said.
Financial terms of the acquisition were not disclosed. But Huichih Ko, chairman of Willis Asia, said in prepared remarks that the deal reflects “the latest chapter in a targeted acquisition strategy to seek out complementary businesses with specialist skills and strong growth prospects.”
He added that the deal will help boost its presence in Taiwan and “help position us there as the global risk adviser of choice.”
Along the line of complementary businesses, Willis offered in April to buy the 70 percent of Gras Savoye that it doesn’t already own, in order to expand in France, Eastern Europe and the Middle East. Willis has also snatched up businesses including Miller Insurance Services and Max Matthiessen over the last year in order to expand into shipping, construction and energy, and to boost its Nordic operations, respectively.
Source: Willis Re