Willis Towers Watson signs agreement to acquire Israeli broker Leaderim

Rhea-AI Summary

Willis Towers Watson (NASDAQ: WLTW) announced the acquisition of Leaderim, a leading insurance broking and risk consultancy firm in Israel. Leaderim, with 45 experts, provides commercial insurance solutions and has been operational for over 20 years, focusing on multinational risk programs. This strategic acquisition aims to enhance WTW's presence in Israel and the Middle East, leveraging Leaderim's expertise alongside WTW's global capabilities. The transaction is subject to regulatory approval, and terms remain undisclosed.

Positive

• Acquisition strengthens WTW's footprint and capabilities in the Israeli and Middle Eastern markets.
• Leaderim's strong reputation and expertise will enhance WTW's service offerings in Israel.
• Collaboration expected to improve access to global markets and superior analytics for clients.

Negative

• None.

LONDON, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking, and solutions company, today announced that it has signed a definitive agreement to acquire Leaderim, an insurance broking and risk consultancy business in Israel.

Leaderim is one of the top brokers in Israel, with a team of 45 experts offering a range of commercial insurance solutions to the Israeli market. The business was established over 20 years ago and has deep experience in multinational risk programs, reflecting the high number of global companies operating in Israel.

Pamela Thomson-Hall, Head of International, Willis Towers Watson (WTW), said: “This is an exciting step that reflects our global strategy to work with high-performing, high-potential businesses in thriving markets. Welcoming Leaderim into our team strengthens our footprint and capabilities in Israel and the Middle East, while they will benefit from leveraging our global expertise and reach. They have built a solid reputation for innovation and excellence which aligns with our own values and ambitions.”

Oded Haimov, CEO of Leaderim, said: “WTW is a major global broker that believes in the Israeli market for the long term. This vote of confidence leads us to the next stage in our evolution. Working alongside global colleagues at WTW, whose team already knows this market well, our clients will benefit from access to global markets, additional solutions, and crucially the superior data and analytics capabilities WTW is known for. We believe that our transformation into WTW Israel will be good news for businesses in Israel. Through us, potential clients will be able to improve the day-to-day service they receive and insurance products they currently purchase.”

Willis Towers Watson has served clients in Israel for many years through a correspondent partner, so has a strong understanding of the market. Today’s announcement follows an initial heads of terms agreement in August. The two parties have now signed a definitive agreement and will progress towards completing the acquisition, which is subject to typical closing conditions, including regulatory approval. The terms of the transaction are undisclosed.

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets.

We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance.

Together, we unlock potential. Learn more at willistowerswatson.com.

About Leaderim

Leaderim is one of the leading insurance brokers in Israel, arranging commercial insurance portfolios and providing independent consultancy services for clients with a professional, dynamic and innovative approach. For more than two decades it has specialised in formulating tailor-made insurance solutions for clients’ diverse needs and providing independent insurance consultancy services to Israeli corporations operating locally and worldwide. Its staff is comprised of veteran account executives providing professional and unparalleled service to clients including assisting them in dealing with large and complex insurance claims.

Clients include leading Israeli companies in the fields of industry, commerce, capital markets, hi-tech and biotech, aviation, infrastructure and energy.

FAQ

What is the purpose of Willis Towers Watson's acquisition of Leaderim?

The acquisition aims to strengthen WTW's market presence and service capabilities in Israel and the Middle East.

When was the acquisition agreement between WTW and Leaderim signed?

The definitive acquisition agreement was announced on November 16, 2021.

What advantages does Leaderim gain from joining WTW?

Leaderim will benefit from WTW's global expertise, additional solutions, and advanced data analytics capabilities.

What is Leaderim's position in the Israeli market?

Leaderim is one of the top insurance brokers in Israel, known for its commercial insurance solutions and consultancy services.

Is the acquisition of Leaderim by WTW subject to any conditions?

Yes, the acquisition is subject to regulatory approval and typical closing conditions.