The completion of the transaction, expected over the next 60-90 days, is subject to customary closing conditions, including regulatory approvals.

"The EMB acquisition furthers Towers Watson's strategy to serve clients with increasingly sophisticated risk analytics and consulting solutions," says Patricia L. Guinn, global leader of Towers Watson's risk and financial services segment. "The two companies share traditions of professionalism, service quality and innovation, and we look forward to EMB joining the Towers Watson family."

EMB was founded in 1993 in the U.K. as the first actuarial consultancy dedicated to P&C insurance and the development of high-performance actuarial software. Its core expertise in nonlife insurance analytics has since expanded to other areas, including business consultancy, marketing sciences and enterprise risk management. EMB has more than 300 employees and, in its fiscal year ending April 2010, had revenues in excess of ?40 million.

With 4,000 licensed users in 53 countries, EMB's software products are well established in such important P&C areas as financial modeling, pricing and reserving. EMB Igloo, EMB Emblem, EMB ResQ and other offerings complement and expand the Towers Watson software portfolio of such products as RiskAgility, MoSes, Simulum and Pretium, among others.

"EMB has had tremendous success over the past 17 years but, to remain at the cutting edge and maintain our evolution, we have decided the time is right to seek a bigger partner. The continued development of our software and consulting offerings will benefit from Towers Watson's strength and breadth," says Rory O'Brien, EMB's managing partner. "Towers Watson and EMB complement each other strategically, and I'm confident that our clients will experience the same commitment to excellence and innovation while gaining access to broader insurance consulting and risk transfer solutions."

Guinn and O'Brien said that the two companies share similar "clients first" cultures and complementary business strengths. Guinn added that Towers Watson plans to work closely with EMB clients to preserve continuity of client teams and services.

Special Reports /

Towers Watson Expands Consulting, Software Offerings to P&C Insurers

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