Willis has acquired US sports and entertainment insurance broker Special Risk Advisors International.

Willis said the terms of the transaction will not be disclosed.

Special Risk Advisors helps manage the risks associated with contracts within the athletic and entertainment arena. Special Risk Advisors also works with companies involved in the management of events and promotions, assisting them with event cancellation and prize indemnity insurance.

As part of the transaction, Michael Wright, president of Special Risk Advisors, will become practice group leader for Willis' sports and entertainment practice.

Willis chairman and chief executive Joe Plumeri said: "Michael Wright has shown tremendous leadership and entrepreneurialism in building Special Risk Advisors into a formidable company in the sports and entertainment industries.

"Blending its industry knowledge with a creative approach to risk management, Special Risk Advisors is able to meet its clients' unique insurance needs with an eye on budget concerns.

Wright added: "As a global insurance broker promoting entrepreneurialism and exhibiting a passion for client service, Willis is a unique company in the current insurance landscape. By joining Willis, we bring their access to global markets and strong practice groups directly to our clients."

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