MUMBAI, July 7: Willis Towers Watson, a leading global advisory and broking and solutions company, today said that it has acquired a 49 percent stake in Almondz Insurance Brokers in India.
The joint venture will combine Willis Towers Watson’s global network and expertise with Almondz’s skilled team and wealth of experience in the country.
Almondz is a leading Indian composite insurance broker with over 300 associates in nine offices in the country serving clients with a broad range of products and services across diversified industries and segments.
The combination enhances Willis Towers Watson’s capability in the country to provide a full complement of advice, analytics, specialty capabilities and solutions covering benefits; brokerage and advisory, risk and capital management; and talent and rewards.
“This combination of Willis Towers Watson’s global experience and Almondz’s local expertise, and our common focus on superior client service, will reap added benefits for our clients, employees and the insurance and reinsurance sector in India,” Rohit Jain, chairman, Almondz Insurance Brokers, said.
Commenting on the development, Scott Burnett, head of Asia, Willis Towers Watson said, “the joint venture enhances our position in India in terms of talent, expertise and experience. Our clients will have access to data-driven insights powered by best in-class analytical and technology capabilities and to talent with deep sector and industry expertise.”
While Rohit Jain will take on the Willis Towers Watson head of India position, Vivek Nath will relocate to Singapore to continue to lead Willis Towers Watson, South Asia and its growth strategy, he added. (PTI)
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