Willis Acquires Polish Broker to Expand Employee Benefits, Construction

Willis Europe B.V., a division of Willis Group Holdings plc, has acquired 100 percent of the shares of Polish insurance broker, Brokerskie Centrum Ubezpieczeniowe (AMA) Sp. Zoo.

Willis said the deal, effective immediately, will further strengthen its “presence in the country, in particular in the burgeoning Employee Benefits and Construction sectors.”

Terms of the transaction were not disclosed.

Willis also noted that “major civil engineering projects are set to increase the growth of the Polish construction market by around 11 percent this year, while the IMF says that a rebound in employment growth is being driven by increased activity in the services sector.”

BCU AMA was established in Warsaw in 1998. It is “focused on specialty insurance lines, developing a significant book of business providing insurance brokerage services to the rapidly expanding Employee Benefits and Construction industries.

“Willis Polska, a wholly-owned subsidiary of Willis Europe, has been trading in Poland since 1991, and has 47 employees and three offices in Warsaw, Katowice and Gdańsk. Its latest acquisition will see 12 BCU AMA staff transfer to the Willis’ office in Warsaw.”

Jacek Cichy, CEO of Willis Polska, pointed out that as the “Polish economy continues to grow at a rate of around 3.8 percent, the expansion of the Employee Benefits and Construction markets, along with other industries, will need to be accompanied by robust risk management. By joining with BCU AMA, we now have leading expertise in these lines of business and can help our clients put in place holistic insurance programs to mitigate their increased exposure to risk.

“In addition, BCU AMA’s clients will also benefit from access to a much broader range of services, backed by the vast global resources of Willis Group, in areas like Energy, Marine, Aviation and Financial and Executive risks.”

Source: Willis Group Holdings plc

Topics Mergers & Acquisitions Agencies Construction