Willis Acquires Danish Reinsurance Broker
NU Online News Service, Jan 12, 12:02 p.m. EST?London-based Willis Group Holdings said it is acquiring Kirecon A/S, a provider of reinsurance brokerage service based in Copenhagen, Denmark.[@@]
According to Kirecon’s Web site, the firm deals primarily with medium-size Danish insurance companies. Established in 1986, the firm has annualized revenues of U.S. $3 million. Terms of the purchase were not disclosed.
“Reinsurance is a great strength of Willis and a business that the company is very committed to,” said Joe Plumeri, chairman and chief executive officer of Willis, in a statement. “This acquisition, of a quality team that is well known and respected in the Danish market, will strengthen further our Nordic reinsurance business.”
Niels Kirschberg, owner and chief executive officer of Kirecon, said he and his colleagues were delighted to be joining Willis. He added that the two firm’s approach to client service is consistent and he saw great opportunities ahead.