Willis Acquires Vision Insurance Group

NU Online News Service, Jan. 5, 12:28 p.m.EST?Willis Group Holdings Limited announced theacquisition of Vision Insurance Group, a risk management andinsurance brokerage firm based in Montgomery, Ala.[@@]

Vision, founded in 2000 by Bruce W. Hodges, provides a fullrange of commercial lines and employee benefits broking services,as well as risk management services, to medium and large businessesin a variety of fields.

The company handles the business of companies involved with newsand entertainment, airline, recreation, technology, resort andcommercial rental property, manufacturing, construction,transportation and other lines. The group reported revenues of $3million in 2003.

As part of the agreement, Willis will extend employmentagreements to several Vision associates. Vision will continue tooperate under a long-term sub-broker agreement with Willis.

Additional terms of the transaction were not disclosed.