Industrial broker Willis Group has announced it has completed the acquisition of Stockholm-based broker Propacta AB.

Following completion of the transaction Propacta's 30-person workforce will be integrated with the Stockholm office of Willis AB, Willis' Swedish subsidiary.

The move follows last month's acquisition by Willis AB of public sector broker Kombro Risk Management AB.

Sarah Turvill, Chief Executive of Willis International Holdings, said: "Willis corporate strategy is to increase the proportion of its earnings from its International businesses.

"Sweden is a growth market for us and this acquisition, following closely our acquisition of Kombro, will strengthen further our leadership position in this attractive market."

Per-Erik Nääs, founder and partner of Propacta said: "We now have a very strong financial partner and can expand our client services to offer specialised international employee benefits solutions by using the strong global network of Willis. We are very excited by the opportunities we see together."

Topics