Willis Acquires Danish Reinsurance Broker

NU Online News Service, Jan 12, 12:02 p.m.EST?London-based Willis Group Holdings said it isacquiring Kirecon A/S, a provider of reinsurance brokerage servicebased in Copenhagen, Denmark.[@@]

According to Kirecon's Web site, the firm deals primarily withmedium-size Danish insurance companies. Established in 1986, thefirm has annualized revenues of U.S. $3 million. Terms of thepurchase were not disclosed.

"Reinsurance is a great strength of Willis and a business thatthe company is very committed to," said Joe Plumeri, chairman andchief executive officer of Willis, in a statement. "Thisacquisition, of a quality team that is well known and respected inthe Danish market, will strengthen further our Nordic reinsurancebusiness."

Niels Kirschberg, owner and chief executive officer of Kirecon,said he and his colleagues were delighted to be joining Willis. Headded that the two firm's approach to client service is consistentand he saw great opportunities ahead.