Willis Acquires Mexican Broker
NU Online News Service, Dec. 20, 10:39 a.m. EST?Willis Group Holdings said it has acquired the Mexican insurance brokerage firm Maisterrena Asesores, Agente de Seguros y De Fianzas, SA de CV.[@@]
Terms of the transaction are not disclosed.
Maisterrena is a general insurance broker based in Monterrey, Mexico, serving mainly middle market corporate clients. It has annual revenues of around Mexican Peso 10.3 million ($900,000 at current exchange rates).
Maisterrena will be integrated with Willis' operations in Monterrey, Willis said.
In a statement Joe Plumeri, chairman and chief executive officer of Willis, headquartered in London, said the acquisition reflected the broker's commitment to expanding in Latin America, where it sees significant opportunities.
He noted that Monterrey is one of three major economic centers in Mexico, and the acquisition gives the broker a strong presence in that city.
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