Willis Group Acquires San Diego-based Cogdill Bonding

August 19, 2003

Willis Group Holdings Limited announced that it has signed definitive agreements to acquire Cogdill Bonding and Insurance Services Inc. (“Cogdill Bonding”), the assets of the sole proprietorship of Scott J. Tucker CFP (“SJT”), and TCT Insurance Services Inc. (“TCT”), all of which are located in San Diego, California. Annualized revenue from these three transactions total approximately $3.2 million. These transactions, which will be combinations of cash and stock, are expected to close Aug. 31, 2003.

Started in 1997 by San Diego native Larry Cogdill, Cogdill Bonding specializes in surety bond coverage for construction projects in the public and private sectors. Founded by Scott J. Tucker, SJT provides group employee benefits consulting and insurance services. TCT, headed by Jill Tucker, provides general property and casualty insurance products. Larry Cogdill, Jill Tucker, Scott Tucker and the respective staffs of Cogdill Bonding, TCT and SJT will be combining their operations with Willis’ existing San Diego office, which traces its roots in the San Diego business community to the mid-1950’s.

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