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Willis buys Taiwan's Elite Risk Services

IBR Staff Writer Published 13 August 2015

Global risk advisory, re/insurance broking firm Willis Group has completed the acquisition of Elite Risk Services Limited of Taiwan, allowing the firm to expand its operations in the country, market presence and large accounts offering.

Terms of the deal, which was first announced this June, have not been disclosed.

Under the deal, Elite operates under the Willis brand and its staff will join Willis Taiwan.

According to Willis, the move almost doubles the size of its existing business in Taiwan and strengthens client offering to larger accounts, particularly in the marine and technology, media & telecoms (TMT) sectors.

Willis Asia regional CEO Adam Garrard said: "The completion of this acquisition creates a platform for growth in Taiwan and across the region, with a highly motivated, innovative, responsive and technically skilled workforce to service our clients and prospects."

Established in 2005, Elite offers professional risk services, re/insurance broking and consultancy services to Taiwanese clients domestically and abroad.

The firm is specialized in providing property damage, marine, media & telecoms (TMT), product liability and executive risks services.