Willis Group
 |
|
| subsidiary | |
| Industry | Insurance broker |
| Founded | 1828 (London) |
| Headquarters | London, United Kingdom |
|
Key people
|
Dominic Casserley (CEO) |
| Products | Insurance, Risk management, Human resource consulting |
| Revenue | $3.8 billion (2014) |
| $647 million (2014) | |
| $362 million (2014) | |
|
Number of employees
|
18,000 |
| Parent | Willis Towers Watson |
| Website | willis.com |
Willis Group Holdings plc is a multinational risk advisor, insurance brokerage and reinsurance brokerage company with its headquarters in the Willis Building in London. It is the world's fourth-largest insurance broker when measured by revenues. Willis has around 400 offices in 120 countries and approximately 18,000 employees.
Willis was previously listed on the before its early-2016 'merger of equals' with Towers Watson. After the deal closed, the combined company began trading on the Nasdaq exchange under the symbol, WLTW (Nasdaq: WLTW).
The Willis Group is not related to Willis Lease Finance Corporation of Novato, California (Nasdaq: WLFC)
The company was founded by Henry Willis in London in 1828, and initially operated as Henry Willis & Co. In 1898 it merged with Faber Brothers (founded in 1886) to form Willis Faber, and then in 1928 it merged with Dumas & Wylie (founded in 1843) to create Willis, Faber & Dumas. It was first listed on the in 1976 as Willis Faber.
It expanded into the United States in 1990 when it merged with Corroon & Black (founded as R. A. Corroon & Co. in 1905) to form the Willis Corroon Group. In 1998 in a leveraged buyout the Company was acquired by Trinity Acquisition on behalf of Kohlberg Kravis Roberts, and in 1999 the name Willis Group was adopted. It was first listed on the in 2001.
In October 2008, Willis acquired Hilb, Rogal & Hobbs Co. (HRH), one of the largest insurance and risk management intermediaries in North America and this has boosted their North American presence, as well as acquired Glencairn Limited which has augmented its Lloyd's of London Market strength.
Willis announced plans in 2009 to relocate its registered office from Bermuda to Ireland. Its shareholders approved the move in December 2009, and the company announced on 31 December 2009, that its reorganisation has been completed and the new parent company of the Willis Group – known as Willis Group Holdings Public Limited Company – is incorporated in Ireland.
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Wikipedia