Brokerage giant Willis Group Holdings Ltd. announced the asset acquisition of River City Agency LLC, an agency located in St. Paul, Minn. River City is a specialized insurance broker dedicated to serving the needs of the local construction industry. The transaction closed today; terms were not disclosed.
Founded in May of 1996 by Juergen Weidling, who has served as the president of the agency since that time, River City is engaged in the sale of insurance and surety bonds to businesses, primarily in the construction industry, in the upper Midwest region of the United States. The agency prides itself on excellent customer service and knowledge of construction and builders’ risks.
“This acquisition is consistent with our strategy of building our market share in key sectors of the economy,” said Joe Plumeri, CEO of Willis. “River City’s strength in the local construction industry combined with their strong client service orientation makes this a perfect fit. It reflects the Willis model of combining access to global resources with local expertise and close client relationships.”