Willis Acquires Ital Re
NU Online News Service, Oct. 28, 12:35 p.m. EST?Willis Group Holdings announced it has agreed to acquire Ital Re SpA, a provider of reinsurance broking services based in Rome and Milan. Terms of the transaction were not disclosed.
Joe Plumeri, chairman and chief executive officer of Willis, said in a statement, "This acquisition fits in well with our strategy to expand in major functional and geographic areas where we see good growth prospects.
"This acquisition, of a quality team that is well known and respected, will strengthen further our European reinsurance business."
"My partners, staff and I are delighted to be joining the Willis team," said Giulio di Gropello, the CEO of Ital Re. "Willis' management approach and focus on client services is consistent with our own. We see great opportunities to grow our business and look forward to working jointly with Agostino Puppo, CEO of Willis Re Italia."
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