Global insurance broker Willis Group Holdings expands its business after acquiring the remaining shares of Willis A/S in Denmark.
Global insurance broker Willis Group Holdings has acquired the remaining shares of Willis A/S in Denmark.
The group had acquired a 30% stake in Assurandoergruppen in 1998, and the broker changed its name to Willis A/S shortly thereafter. This deal means the remaining 70%, which was being held by the management and partners within the business, is now owned by Willis Group Holdings.
Willis A/S is Denmark's largest insurance broker and almost twice the size of its nearest competitor. The company provides general insurance, risk management and pensions and benefits services to a range of companies and organisations in Denmark.
Willis Group Holdings chairman and chief executive Joe Plumeri said: "Our international business has grown in recent years and we have ambitious plans for its continued development. As part of our growth strategy we seek where possible to acquire full or majority control of our international business associates.
"The Willis A/S team has done a great job to expand the business and we look forward to its further development as it becomes integrated with - and has full access to - Wills' global resources and systems."
