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Willis Completely Acquires Share Capital Of Herzfeld Willis In Argentina

BBR Staff Writer Published 29 September 2009

The business will be renamed as Willis Argentina

Willis Group Holdings, the global insurance broker, has completed the purchase of 100% of the share capital of Herzfeld Willis (Retail operation) and Willis (Reinsurance operation) in Argentina. The business will now be known as Willis Argentina.

Reportedly, Willis Argentina has 130 Associates located in its office in Buenos Aires. The global broker has 26 offices throughout Latin America in Argentina, Brazil, Chile, Colombia, Mexico, Peru and Venezuela.

Eugenio Paschoal, CEO for Willis Latin America, said: “We have taken full ownership of Willis Argentina because we see excellent growth prospects in this country and are committed to becoming the leading broker there. We have ambitious expansion plans for Latin America as a whole and a strong foothold in Argentina will help us maintain the double-digit growth momentum that we have built up in the region.”

Fabiana Scalone, CEO of Willis Argentina, said: “Together with Willis, we have developed a dynamic hub of insurance and reinsurance broking expertise in Argentina. By coming fully under the Willis umbrella, we believe that our clients will continue to benefit from high-touch local service, backed by the extensive global resources and expertise of one of the world's leading broker power houses.”