DUBLIN, Dec. 11, 2014 (GLOBE NEWSWIRE) -- Willis Ireland, part of Willis Group Holdings plc (NYSE:WSH), the global risk adviser, insurance and reinsurance broker, today announced it has received the relevant regulatory approvals and has completed its acquisition of a range of Irish pension and financial advisory businesses from IFG Group plc.
The investment augments and supports Willis Ireland's existing pensions business and its financial and wealth-planning services to individuals. It also underscores Willis's commitment to growing its global Human Capital and Benefits practice.
The deal brings more than 100 people from the highly-respected, award-winning IFG Ireland pension and financial advisory businesses into Willis Ireland, which will also benefit from industry-leading platforms and technology focused on defined contribution pensions.
The companies acquired from IFG Group plc are:
- IFG Pensco Ltd, a leading pensions consultancy and administration business
- Retirement Strategies Ltd and IFG Private Clients Ltd, both financial advisory companies
- Planlife Trustee Services Ltd, a professional trustee company
- Trade Credit Brokers Ltd, a trade credit broking business
Tim Wright, CEO of Willis International, and leader of Willis's global Human Capital and Benefits practice, said: "This is the latest in an exciting series of acquisitions this year to grow and develop our Human Capital and Benefits practice globally. The Irish market holds a lot of potential and we see a growing interest among both clients and prospects in retirement and wealth planning."
Alberto Gallego, Regional CEO of Willis Western Europe, said: "We are in a strong position in Ireland when it comes to pension solutions, and this move builds on that. I'm very pleased that this acquisition is now completed, and to see so much extra talent and expertise under the Willis roof."
Brian Curtis, CEO of Willis Ireland, said: "We have been a leader in the Irish market for many decades, with expertise in both defined benefit and defined contribution pensions. This deal gives a boost of focused talent and innovative technology to help expand our offer and drive growth."
Gary Owens, Managing Director of the combined Pension and Human Capital and Benefits business of Willis Ireland, and formerly IFG Group Director and CEO of IFG Ireland, said: "The integration of IFG Ireland and Willis Human Capital Ireland puts the business in a strong position in the Irish market. The combined business will have the global strength and local expertise to provide fresh solutions for customers in both the defined benefit and contribution markets."
About Willis Group
Willis Group Holdings plc is a leading global risk adviser, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with more than 18,000 employees in over 400 offices. Willis Risk Services (Ireland) Ltd (t/a Willis) is regulated by the Central Bank of Ireland.
Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.