Willis Grows In Denmark

NU Online News Service, Jan. 20, 2:23 p.m. EST?Willis Group Holdings said it has acquired the remaining shares of Willis A/S in Copenhagen for its latest Danish acquisition.[@@]

The London-based insurance broker said it acquired a 30 percent share of Assurandoergruppen in 1998. The firm changed its name to Willis A/S shortly after. Willis said it has now purchased the remaining 70 percent of the firm that was held by the management and partners within the firm. Financial terms were not announced.

Willis A/S is Denmark's largest insurance broker, Willis said, employing 300 people. Headquartered in Copenhagen, it has offices in Aarhus, Aalborg and Odense. The firm provides general insurance, risk management, and pensions and benefit services to a broad range of companies and organizations in Denmark.

"Our international business has grown strong in recent years, and we have ambitious plans for its continued development," said Joe Plumeri, chairman and chief executive officer of Willis, in a statement. "As part of our growth strategy, we seek where possible to acquire full or majority control of our international business associates."

Earlier this month, Willis acquired Kirecon A/S, based in Copenhagen, a provider of reinsurance brokerage service in the country.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.