Willis to acquire specialist broker
Willis Group Holdings will acquire specialist broker Charles Monat. The business will be combined with Willis’ existing global wealth solutions platform.
Charles Monat, founder, chairman and CEO of the company, will assume position as worldwide chairman of Willis’ global wealth solutions business and will lead the business in Asia alongside Yves Guélat, CEO of Willis’ global wealth solutions.
“Life insurance solutions for high net worth individuals is an established sector in Asia,” said Adam Garrard, CEO, Willis Asia. “The combination of the Charles Monat group’s expertise and reputation in this sector, coupled with our global footprint and international experience, will allow us to significantly accelerate our plans to expand our global wealth solutions capabilities to other regions around the world.”
Charles Monat has placed over $13 billion in coverage since it was founded in 1971 and currently has 61 employees and consultants based in Hong Kong, Singapore, Switzerland and the US.
Monat said: “This merger creates the ideal platform for expanding and supporting our growing international business and provides a bright future for our dedicated employees, clients and business partners.”
Dominic Casserley, CEO, Willis Group Holdings, added: “This acquisition embodies our strategy of targeting acquisitions in attractive client segments and geographies, where the combination of local relationships, global coverage and innovation create real advantage for our clients and Willis alike.”
