Willis Group Holdings Limited reported the acquisition of Gueits, Adams & Company. Located in New York City, Gueits, Adams specializes in jewelers block insurance and has annualized revenues of approximately $4 million. Terms are not disclosed. The transaction was effective as of Feb. 1.
“This acquisition is part of our strategy to reinforce our position in existing businesses in order to foster continued growth,” said Joe Plumeri, chairman and CEO of Willis. “It complements our acquisition of International Insurance Brokers earlier this year. Gueits, Adams has a reputation of excellent service and unmatched knowledge of its industries. The combination of their broking capabilities, concern for the client and entrepreneurial spirit make them a great fit with the Willis culture.”
Founded in 1989 by Edward Gueits and Gerard Adams, Gueits, Adams & Company is engaged in the sale of insurance to businesses, primarily in the jewelry industries in the United States.