Willis doubles US exposure
Global insurance broker Willis Group Holdings has bought major US competitor Hilb Regal and Hobbs (HRH) for $US2.1 billion ($2.2 billion).
Willis says the purchase will double its North America revenues and “strengthen its leadership in attractive growth markets”.
Chairman and CEO Joe Plumeri says the transaction is all about growth. “Only HRH has the scale and fit in attractive growth areas to take out business to the next level,” he said.
The new organisation will be renamed Willis HRH in North America.
Willis says the purchase will double its North America revenues and “strengthen its leadership in attractive growth markets”.
Chairman and CEO Joe Plumeri says the transaction is all about growth. “Only HRH has the scale and fit in attractive growth areas to take out business to the next level,” he said.
The new organisation will be renamed Willis HRH in North America.