London-based Willis Group Holdings and French insurance broker Gras Savoye will join their French and Belgian reinsurance units into one Paris-based company.
The new entity will be named Willis Gras Savoye.
Willis CEO Joe Plumeri announced that by combining Willis's global resources with Gras Savoye Re's local knowledge and expertise, "the new company will be ideally positioned to meet the needs of clients and deliver outstanding global service at the local level."
Gras Savoye Chairman Patrick Lucas said "the demands of French and Belgian reinsurance buyers are becoming ever more sophisticated and through the creation of Willis Gras Savoye Re we have the ideal platform to respond to their fast-evolving needs."
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