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.
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