Willis Group Holdings Limited announced the asset acquisition of Vision Insurance Group, a risk management and insurance brokerage firm based in Montgomery, Ala. Vision’s estimated revenues for 2003 are $3 million.
Founded in 2000 by Bruce Hodges, Vision provides a full range of commercial lines and employee benefits broking as well as risk management services to medium and large businesses in a variety of fields – news and entertainment, airline, recreation, technology, resort and commercial rental property, manufacturing, construction, transportation and others. As part of the agreement, Willis will extend employment agreements to several Vision associates while Vision will continue operations under a long-term sub-broker agreement with Willis.
“This acquisition is consistent with our strategy of building our business across key sectors of the economy and reflects the Willis model of combining access to global resources with local expertise and close client relationships,” noted Joe Plumeri, chairman and CEO of Willis.
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