Willis Towers Watson today announced the purchase of Risk Capital Advisors, an Australia-founded insurance broker in the mergers and acquisitions (M&A) space.

The acquisition for an undisclosed sum includes Risk Capital’s operations in New Zealand and South Africa, and takes effect immediately.

Willis Towers Watson says the new business will bolster its presence in the growing M&A market, and fully complements the strength of its financial, executive and professional risks offerings.

Risk Capital specialises in warranty and indemnity, tax, contingent and environmental insurance.

“This is the foremost team in Australasia for warranty and indemnity insurance,” Willis Towers Watson Head of Australasia Simon Weaver said.

“The combination of our teams will strengthen our value proposition for all our clients, by providing a wider and deeper range of expertise and service.”

Willis Towers Watson Head of Finex Australasia Jill Stewart says there is strong alignment in the product offerings between the two entities.

“Combined with our financial lines expertise, we now have one of the most complete financial and executive risk offerings in the Australasian market.”