Broker says deal will boost presence in UK employee benefits market
Broking group Willis has agreed to buy UK healthcare adviser and broker PMI Health Group for an undisclosed sum.
The company said the acquisition will “significantly” boost its presence in the UK benefits and healthcare market.
The transaction is subject to regulatory approval and is expected to close in the third quarter of 2015.
After completion, PMI will use the Willis brand and maintain its operations at its current base in Wincham, Cheshire.
The deal closely follows the announcement of Willis’s planned $18bn merger with global consulting firm Towers Watson, which is also expected to grow the broking group’s employee benefits offering.
Willis GB chief executive Nicolas Aubert (pictured) said: “This deal is a major step forward for our human capital and benefits business, and offers strong synergies and future strategic opportunities.
“Both Willis Employee Benefits and PMI Health Group are recognised for their expertise and outstanding client service, and uniting these two wholly complementary businesses will enhance our competitive edge further.”
PMI Heath Group chief executive Matthew Baldwin added: “Joining with Willis will bring significant strategic opportunities and enable the PMI Health Group team and proposition to be an integral part of a growing, exciting and international business to service our clients.”