Willis Group Holdings announced that Scottish independent broker, Clark Thomson Insurance Brokers Ltd (CTIB), has agreed to join Willis Commercial Network (WCN) in a deal that includes the purchase of Willis’s Commercial business unit in Scotland, which focuses on small and medium sized enterprises (SME).
CTIB is Scotland’s largest independent insurance broker with 50 years of experience in commercial insurance broking and a focus on SME business. With this business expansion it will have 11 offices across Scotland.
The announcement explained that the purchase of Willis’s Commercial business unit in Scotland “is subject to the satisfaction of certain conditions in the Asset Purchase Agreement, scheduled to complete in April 2015. Active trading by Clark Thomson within WCN is due to commence following the satisfaction of those conditions.”
Sara Fardon, Managing Director of WCN, said: “It is with great pleasure that we welcome Clark Thomson Insurance Brokers into Willis Commercial Network. They join an active network in Scotland and we look forward to working closely with them.”
Alex Moore, Head of Willis GB’s Retail Network added: “This transaction supports our strategy in Great Britain which is to firmly focus on servicing the corporate market directly, and the small and medium sized business sector through Willis Commercial Network.”
Ben Bailey, Managing Director of Clark Thomson, expressed delight with the acquisition; adding that the “strength of our combined businesses together with our membership of the Willis Commercial Network will ensure clients receive the depth of resources available to a global broker whilst also benefitting from the flexibility and local service capabilities demanded by the SME sector.”
Willis also noted that, following a strategic review, it “sold its SME commercial account in England to network member Chesham Insurance in October 2013 and in December 2014 Allianz Business Services Limited purchased Willis’s micro and SME business, Businesscare, and joined WCN.
Source: Willis Group Holdings
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