Willis Acquires Minn. Agency
NU Online News Service, Sept. 16, 2 :55 p.m. EDT?Willis Group Holdings Limited has acquired River City Agency LLC, in St. Paul, Minn.
The transaction closed today; terms were not disclosed.
The London headquartered broker said River City was founded in 1996 by Juergen Weidling, the current president. It is engaged in the sale of insurance and surety bonds to businesses, primarily in the construction industry throughout the upper Midwest region.
"This acquisition is consistent with our strategy of building our market share in key sectors of the economy," said Joe Plumeri, chairman and chief executive officer of Willis in a statement. "River City's strength in the local construction industry combined with their strong client service orientation makes this a perfect fit. It reflects the Willis model of combining access to global resources with local expertise and close client relationships."
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