Willis Towers Watson has concluded its negotiations with OAAGC, the French aviation brokerage, and has now completed the acquisition of its team and book of business.
Willis Towers Watson said the deal makes it the leading aviation broker in France. “OAAGC clients can now benefit from Willis Towers Watson’s full suite of people and risk solutions,” the broker said.
Paris-based OAAGC (Office d’Assurances Aériennes G. de Cugnac) was founded in 1898. Its team of 16 is dedicated to aviation insurance solutions and “they are now a key addition to the Willis Towers Watson global aerospace team,” the company added.
The acquisition transfers OAAGC’s book of business and the full OAAGC team to Willis Towers Watson, which also operates in France as Gras Savoye. OAAGC’s existing client base will continue to be serviced by the same experts. The terms of the transaction were not disclosed.
OAAGC has had a strong relationship with Willis Towers Watson through its partnership with Gras Savoye, which owned 40 percent of OAAGC, and through its links with the aviation team at Willis. Willis acquired Gras Savoye in December 2015 before the merger with Towers Watson in January 2016, which created Willis Towers Watson.
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