Asian News - Willis acquisition doubles Taiwan business
Source: Asia Insurance Review | Jul 2015
Willis Group Holdings is to acquire Elite Risk Services of Taiwan.
The move almost doubles the size of Willis’s existing business in Taiwan and strengthens its client offering to larger accounts, particularly in the marine and technology, media & telecoms (TMT) sectors.
Chairman Huichih Ko of Willis Asia, said: “Elite is a well-established and innovative business that is respected by its many clients and the wider market. This deal will strengthen our presence in Taiwan and help position us there as the global risk adviser of choice. Taiwan is an important market, both in Asia and globally, and we think the island’s many major companies have great potential, particularly in the TMT and marine sectors.”
The transaction is subject to regulatory approval and is expected to complete in July 2015. The terms of the transaction were not disclosed.