Willis and Towers Watson completed their merger in early January 2016 and became Willis Towers Watson (WTW). The go-ahead decision on the USD 18 billion deal was made by shareholders in an early December 2015 vote, after the terms were changed in several increments during the preceding five months as Towers Watson shareholders were unhappy with the terms offered. Driven by both firms’ management, the deal had been announced
Broker’s Annual Health and Productivity Survey Tracks Employer Trends Employers offering health and wellness programs have moved beyond the standard financial measures associated health care cost savings towards a broader focus on the overall value of health management within a workplace, according to the Willis Health and Productivity Survey published today by Willis North America’s Human Capital Practice. According to the survey, nearly two-thirds of respondents (64%) with wellness
Willis announced the acquisition of PMI Health Group, an independent healthcare adviser and broker in the U.K. The deal will raise Willis’s presence in the U.K. employee benefits and healthcare market, and enhance its product offerings and skills base.
Willis announced the appointment of Brian Shea as Head of Europe for Willis Capital Markets & Advisory, its insurance investment banking division, based in London, effective August 24, 2015. Brian joins from reinsurer SCOR, where he was Chief Corporate Strategy Officer after 20 years as an investment banker with Salomon Brothers and Merrill Lynch.
Willis appointed Simon Weaver as CEO of its Singapore office, as well as to the newly-created role of regional CEO for South-East Asia.
Willis in July announced three new members to Willis Network, bringing the total number to 119. The three new members are: Smith England Ltd (Cheshire), Bluestone Insurance Services Ltd (Gloucestershire) and Rankin Risk Solutions Ltd (Perthshire). The news follows the addition earlier in the year to the network of Allianz Business Services Ltd and Clark Thomson Insurance Brokers.
Willis confirmed that Steve Hearn, Deputy CEO, will leave to join Cooper Gay Swett & Crawford at the beginning of November, 2015.
Willis combines with Towers Watson to create a new $18 billion insurance, personnel, and risk company. Willis shareholders will own 50.1% of the new Ireland-based company, Willis Towers Watson. The new $18-billion company has annual revenue of about $8.2 billion and 39,000 staff in 120 countries, and advises more than 80% of the world’s top 1,000 companies.
Willis announced in July 2015 the appointment of Cedric Luah as Asia Head of Human Capital and Benefits, to lead its Asia regional operations based in Singapore. Cedric joins Willis from the AIA group office in Hong Kong where he was responsible for multinational strategies, corporate clients relationships and multinational pooling. Prior to AIA, he spent seven years with the Swiss Life network, where he was the Head of Sales