Willis Group Holdings News

USI to Acquire 7 Willis Retail Brokerage Locations Across U.S.

USI Insurance Services announced it has entered into an agreement with certain subsidiaries of Willis North America Inc., part of Willis Group Holdings, to acquire seven of Willis’ retail insurance brokerage locations across the United States. Terms of the transaction …

U.S., Rockefeller $100M Fund Promotes Natural Disaster Mitigation, Insurance for Poor

The U.S. Agency for International Development and the Rockefeller Foundation are starting a $100 million project to prepare vulnerable communities for climate- caused humanitarian disasters before they happen. The initiative, which will start in Africa’s Sahel region and was announced …

Willis Reports ‘Non-Operating’ Items Reduce Q2 Net Income to $47 Million

Willis Group Holdings reported net income of $47 million, or $0.26 per diluted share, in the second quarter of 2014 compared to $105 million, or $0.59 per diluted share in Q2 2013. The bulletin explained that “earnings in the second …

Construction P&C Premiums Slump 10-30% Due to Overcapacity: Willis Report

“Overcapacity in the international construction, property & casualty markets in the first half of 2014 has resulted in rate reductions of up to 30 percent for commercial insurance buyers,” according to a report –“Q3 2014 Construction, Property & Casualty Market …

Willis Appoints Chapman Middle East Regional Construction Industry Leader

Willis Group Holdings, global risk adviser, insurance and reinsurance broker, has appointed Keith Chapman as Regional Construction Industry Leader for the Middle East. He is based in Dubai and his “primary responsibility will be to develop risk management solutions for …

Lester Appointed Faber Global CEO; Howard, Indge Move to Acappella

Faber Global, the facultative and wholesale reinsurance arm of Willis Group Holdings, announced the appointment of Alistair Lester as CEO. He will report to Steve Hearn, Chairman and CEO of Willis Global. The current Faber CEO, Jason Howard, will become …

Willis Names Tech, Media, Telecom Leaders – Srail for No. Am. Motzfeldt for Europe

Willis Group Holdings announced that it has reinforced its position as a risk adviser and insurance broker for the technology, media and telecommunications (TMT) sector with the appointment of new regional leaders for North America and Europe. Willis named Tom …

Willis Launches UK’s 1st Shariah Compliant Commercial Property Insurance

Willis Group Holdings announced that in “response to growing demand from property investors for insurance cover that is compliant with Islamic law it has launched the UK’s first Shariah compliant commercial real estate insurance.” Willis said the coverage “offers real …

Willis Completes Acquisition of Specialist Broker Charles Monat

Willis Group Holdings plc announced that it has received the relevant regulatory approvals from the Monetary Authority of Singapore and has completed its acquisition of specialist broker Charles Monat Limited, a life insurance solutions provider to high net worth clients. …

Willis to Acquire Sweden’s Employee Benefits Provider Max Matthiessen

Willis Group Holdings plc announced that it will acquire a controlling stake of approximately 75 percent in Max Matthiessen, an employee benefits adviser in Sweden, for $205 million. Willis said the acquisition “underlines its commitment to grow its global Human …