Clark Thomson Insurance Brokers Joins Willis Commercial Network and Purchases Willis's SME Commercial Business Unit in Scotla...
January 29 2015 - 5:37AM
Willis Group Holdings (NYSE:WSH), the global risk adviser,
insurance and reinsurance broker, announced today that leading
Scottish independent broker, Clark Thomson Insurance Brokers Ltd
(CTIB), has agreed to join Willis Commercial Network (WCN) in a
deal that includes the purchase of Willis's Commercial business
unit in Scotland, which focuses on small and medium sized
enterprises (SME).
With fifty years of experience in commercial insurance broking
and a focus on SME business, CTIB is Scotland's largest independent
insurance broker and the newly expanded business will have eleven
offices across Scotland.
The purchase of Willis's Commercial business unit in Scotland is
subject to the satisfaction of certain conditions in the Asset
Purchase Agreement, scheduled to complete in April 2015. Active
trading by Clark Thomson within WCN is due to commence following
the satisfaction of those conditions.
Sara Fardon, Managing Director of WCN, said: "It is with great
pleasure that we welcome Clark Thomson Insurance Brokers into
Willis Commercial Network. They join an active network in Scotland
and we look forward to working closely with them."
Alex Moore, Head of Willis GB's Retail Network added: "This
transaction supports our strategy in Great Britain which is to
firmly focus on servicing the corporate market directly, and the
small and medium sized business sector through Willis Commercial
Network."
Ben Bailey, Managing Director of Clark Thomson, said: "I am
delighted that we have made this acquisition. The strength of
our combined businesses together with our membership of the Willis
Commercial Network will ensure clients receive the depth of
resources available to a global broker whilst also benefitting from
the flexibility and local service capabilities demanded by the SME
sector."
Following a strategic review, Willis sold its SME commercial
account in England to network member Chesham Insurance in October
2013 and in December 2014 Allianz Business Services Limited
purchased Willis's micro and SME business, Businesscare, and joined
WCN.
Established in 1965, CTIB is one of Scotland's leading
independent insurance brokers, specialising in both private and
commercial insurance.
About Willis
Willis Group Holdings plc is a leading global risk adviser,
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.
Notes to Editors
- Willis Networks represents a thriving partnership between
independent UK insurance brokers, the Willis Group and a panel of
leading insurers.
- Network members are independent general insurance brokers of
any size handling predominantly commercial lines
business.
- Established in 1999, Willis Networks has grown steadily,
extending into Scotland and Northern Ireland, and today comprises
more than 115 members.
CONTACT: Media:
Nathan Hambrook-Skinner
+44 2031 248 716
Email: nathan.hambrook-skinner@willis.com
Investors:
Peter Poillon
+1 212 915 8084
Email: Peter.Poillon@willis.com