Global professional services company Towers Watson and Portuguese broker MDS have combined forces to establish a benefits brokerage consulting service in Portugal. MDS was founded in Porto in 1984. It is now the leading broker in the Portuguese market with around 50,000 clients and an insurance premium income of approximately €150 million [$195 million].
The bulletin said the “alliance combines Towers Watson’s deep consulting expertise in pensions, health care and risk management with MDS’s experience as an employee benefits broker.” They are aiming to “empower organizations with the intelligence and capabilities to respond to the rapidly evolving and complex employee benefits landscape via a joined up brokerage and consultancy service.”
Frederico Jorge, Managing Consultant in Portugal at Towers Watson, indicated that he is “delighted to be able to offer a more comprehensive service to clients through this alliance, which combines specialist resources from both firms and significant knowledge and experience of the Portuguese market.”
Ricardo Pinto dos Santos, Board Member of MDS, added: “The partnership with Towers Watson reflects the need to be focused on providing specialist consulting services in the benefits area, especially in the current economic climate.”
The joint venture comes into effect this month. Each company will provide two supervisory board members and one staff member.
Source: Towers Watson