Willis's Affinity Business Goes Global With Expansion into North America and the UK
March 09 2015 - 8:30AM
Willis Group Holdings plc (NYSE:WSH), the global risk adviser,
insurance and reinsurance broker, today announced that its Affinity
business will become a new global practice that includes North
American markets and the UK.
Existing Affinity-like businesses in these high potential
regions will become part of the new practice and act as footholds
for future investment and expansion. The new approach means
Affinity operations worldwide can draw on greater networks and a
global client base, and also leverage recent investment in IT
systems.
Affinity is a high-growth area for Willis whose insurance
solutions reach everyday consumers and SMEs through partnerships
and distribution agreements with retailers, employers and other
organisations.
Affinity focuses on a range of sectors, including: finance,
retail, manufacturing, utilities, telecoms, car dealerships and
large employers. Examples of Affinity programmes include mobile
phone insurance provided by a telecoms operator, or a trade
association offering tailored insurance products to its
members.
Todd Jones, CEO of Willis North America, said: "The US is the
largest Affinity market in the world and consumers are used to
buying insurance products from retailers and other intermediaries,
so this is a space where we see great potential for growth and
innovation. Our challenge is to find the best solutions for
partners, and that's something in which the team has a great track
record."
Tim Wright, CEO of Willis International, said: "Affinity has
been one of the growth engines for Willis International in recent
years, with a distinctive and compelling model that will benefit
from application across the entire Group."
Willis's Affinity business, which directly employs around 450
associates outside of the UK and North America, has proved a great
success in markets around the world, including Latin America,
Europe and China.
Roberto Tinoco Pinto, CEO of Affinity, said: "Going global means
we can leverage our existing success and replicate our best
practices from around the world in North America and the UK. I'm
excited about the opportunity to develop these markets and continue
growing our business aggressively. We'll be assessing the current
operations in these new markets to refresh our approach, draw on
global resources, and consider future investment and
expansion."
About Willis
Willis Group Holdings plc is a leading global risk advisor,
insurance and reinsurance broker. With roots dating to 1828, Willis
operates today on every continent with more than 18,000 employees
in over 400 offices. Willis offers its clients superior expertise,
teamwork, innovation and market-leading products and professional
services in risk management and transfer. Our experts rank among
the world's leading authorities on analytics, modelling and
mitigation strategies at the intersection of global commerce and
extreme events. Find more information at our website,
www.willis.com, our leadership journal, Resilience, or our
up-to-the-minute blog on breaking news, WillisWire. Across
geographies, industries and specialisms, Willis provides its local
and multinational clients with resilience for a risky world.
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