Willis Holdings has announced the purchase of the business portfolio of Hong Kong broker The Grande Insurance Broker.
Terms of the transaction have not been disclosed, but Willis has assumed responsibility and control of the business with immediate effect.
The integration of the business will be completed by 1 November, when all Grande staff will transfer to Willis offices in Lee Gardens, Hong Kong.
Grande is a Hong Kong licensed general insurance broker that serves middle market corporate clients, particularly in the financial and professional risk
sectors.
It has annual revenues of around HK$5,500,000 (£393,000).
Willis chairman and chief executive Joe Plumeri said: "This acquisition reflects our commitment to expanding in Asia, where we see excellent opportunities for growth.
"Following recent regulatory approval for our Chinese joint venture, Willis Pudong Insurance Brokers, to operate throughout China, Willis is now the fastest growing international insurance broker in the Greater China area.
"We will continue to seek further opportunities for expansion in the region, including via acquisition."
