Willis Group Holdings has bought Goldman Insurance Services/Risk Management of San Francisco, California.
The transaction, which is expected to close on 31 December 2001, is the first major acquisition since Joe Plumeri was appointed chairman and chief executive of Willis last year. It marks the beginning of the global broker's expansion plans.
Speaking exclusively to Insurance Times, Plumeri said: "We have further plans in the future. We intend to be very active in the acquisition of other companies."
Goldman Insurance Services is one of the leading insurance brokers in the San Francisco Bay area, serving property and casualty, employee benefits and personal lines clients for more than 50 years.
Under the acquisition, Goldman staff will combine with Willis' San Francisco office.
Plumeri added that Willis would continue to purchase "insurance brokers wherever we find it fits our strategy". He said the companies would be acquired to "reinforce our great specialisms, reinsurance and make us a bigger entity in North America".
Agency chief executive officer, John Goldman said: "We are delighted to be joining forces with such a highly regarded enterprise. In addition to continuing the close working relationships that are our hallmark, our clients will now have access to the resources and capabilities of a true world leader."
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