Willis completes Swedish acquisition

Broker Willis has completed its acquisition of a controlling stake in employee benefits adviser Max Matthiessen.

Willis has received the relevant regulatory approvals from the Swedish Financial Supervisory Authority for an approximate 75 percent stake.

The newly combined business is now the biggest risk adviser and broker in the Nordic region, and the largest international adviser in Sweden.

Willis Sweden and Max Matthiessen have held a strategic partnership since 2009. The Max Matthiessen brand will be retained and will run alongside Willis Sweden.

Tim Wright, chief executive officer (CEO) of Willis International, and leader of the global human capital and benefits practice, said: “Max Matthiessen is a well-established and widely-respected business serving markets where we see strong growth potential, especially in conjunction with our existing P&C businesses within Sweden.

“Max Matthiessen will bring a powerful set of capabilities to the Willis Group globally, as well as benefiting from Willis’s global footprint. This is an important acquisition for us and it reflects our commitment to both this exciting sector and to the Nordic region.”

Christoffer Folkebo, CEO of Max Matthiessen, said: “We are very happy to now be part of the Willis Group. The combined business will benefit both sides as we can offer our clients a broader product portfolio. Max Matthiessen will operate under the same brand as before but with Willis’s international knowledge and experience enabling us to expand even further.”

Johan Forsgård, CEO of Willis Sweden, added: “Willis is now the international frontrunner in the Nordic region and in Sweden. The strong Willis footprint in the region illustrates the group’s commitment to establishing its global strategy in the human capital and benefits sector. We will now look forward to bringing the best of both organisations here in Sweden to all of our clients.”