WTW enters co-brokerage agreement with The J. Morey Company, Inc.

Rhea-AI Summary

WTW (NASDAQ: WTW) has announced a co-brokerage agreement with The J. Morey Company, Inc., an Ori-gen family company. This partnership aims to provide customized risk management solutions for North American exposures of Japanese-headquartered companies. The collaboration leverages The J. Morey Company's influence in the Asian marketplace and WTW's extensive brokerage experience.

Key benefits include:

• Access to WTW's broad carrier relationships for Asian companies
• Alignment of WTW's Industry Vertical Divisions with The J. Morey Company's experienced brokerage team
• Enhanced expertise and industry knowledge for The J. Morey Company's Asian clients

This partnership supports WTW's Asian growth strategy and reinforces its commitment to serving Asian clients in the US marketplace.

Positive

• Expansion of WTW's services to Asian companies with North American exposures
• Access to The J. Morey Company's relationships in the Asian marketplace
• Potential for increased client base and market share in the Asian risk management sector
• Alignment of resources to deliver industry-leading brokerage support

Negative

• None.

Insights

Insurance Industry Analyst

This co-brokerage agreement between WTW and The J. Morey Company represents a strategic move to enhance service offerings for Asian companies, particularly those with Japanese headquarters, operating in North America. The partnership leverages WTW's extensive carrier relationships and industry vertical expertise with The J. Morey Company's strong presence in the Asian marketplace. This collaboration is likely to strengthen WTW's position in the Asian market segment within North America, potentially leading to increased revenue streams and market share. The timing aligns with Ori-gen's expansion of specialized divisions, including their Japanese Practice, which could create synergies and growth opportunities. For investors, this move signals WTW's commitment to expanding its Asian client base and diversifying its service offerings, which could positively impact long-term growth prospects and competitive positioning in the global insurance brokerage market.

Global Business Strategist

The co-brokerage agreement between WTW and The J. Morey Company is a shrewd strategic maneuver that capitalizes on the increasing globalization of Asian businesses, particularly Japanese companies expanding into North American markets. This partnership addresses a growing need for sophisticated risk management solutions tailored to the unique challenges faced by Asian companies operating internationally. By combining WTW's broad industry expertise and market access with The J. Morey Company's deep understanding of Asian business culture and client relationships, both firms are positioned to capture a larger share of this niche market. The arrangement also demonstrates WTW's agility in forming strategic alliances to penetrate specific market segments, which could serve as a model for future expansion efforts in other regions or industries. Investors should view this as a positive indicator of WTW's proactive approach to market expansion and its ability to identify and capitalize on emerging business opportunities in the global insurance and risk management landscape.

NEW YORK, Oct. 02, 2024 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, today announced a co-brokerage arrangement with The J. Morey Company, Inc., an Ori-gen family company. Focused on customized risk management solutions and related services, the agreement is intended to align resources to deliver industry-leading brokerage support and tailored insurance solutions to North American exposures of companies with headquarters in Japan.

The J. Morey Company’s influence and relationships within the Asian marketplace bolster the extensive brokerage experience that WTW’s Asia Risk Division brings to the market. Clients will benefit from the joint resources and industry expertise available via the new partnership agreement. Asian companies with specific needs in addressing risk management now have the benefit of accessing the breadth of market and coverage options from WTW’s broad carrier relationships. The intent of the co-brokerage agreement is to deliver optimal risk transfer services and solutions to the unique exposure needs of clients with operations and risks in markets including Japan, along with other parts of Asia.

One of the primary advantages of this partnership is aligning the value of CRB North America’s Industry Vertical Divisions (IVDs) with the experienced brokerage team at The J. Morey Company. The partnership affords The J. Morey Company’s Asian clients the opportunity to receive expertise and IVD industry knowledge. This partnership comes at an opportune time as The J. Morey Company’s parent company, Ori-gen, continues to expand their specialized divisions, including their Japanese Practice.

Chris Condello, Head of the Asia Risk Division, Corporate Risk & Broking (CRB), North America, WTW, commented, “This partnership allows both brokerage firms to align to deliver the best risk management solutions to our Asian clients. Through the experience and market relationships that both The J. Morey Company and WTW maintain within the industry, we can align our resources to deliver the best insurance programs and risk solutions to our Asian clients. I look forward to deepening our partnership and providing optimal insurance solutions to our Asian customers.”

Michael Chang, Head of Corporate Risk & Broking (CRB), North America, WTW, added, “Bringing the deep industry knowledge of our IVDs throughout North America to The J. Morey Company’s Asian client base is a natural progression of CRB NA to serving their Asian client base. This new partnership bolsters our Asian growth strategy to bring expertise towards serving the needs of companies throughout Asia. I am proud to continue investing in our Asian expansion strategy, and this alliance with The J. Morey Company is a clear demonstration of our investment in Asia. This co-brokerage agreement reinforces WTW’s commitment to Asia within the US marketplace, initiated with the creation of the Asia Risk Division in July of 2023.”

Joshua Morey, President of The J. Morey Company, added, “As our Japanese and Asian clients invest globally, especially in North America, we must expand our solutions to meet their needs. Our company’s ability to provide tailored, boutique services to Asian Corporations, partnered with WTW’s Industry Vertical Specialization, allows us to provide a unique, best in class solution for our clients. We are excited about the future of our partnership and the positive affects it has on our global client base.”

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

About The J. Morey Company

The J. Morey Company, part of the Ori-gen family of companies, is a multigenerational, diversity-minded brokerage that provides customized risk management solutions for international and local businesses. We have more than 40 years of experience serving clients of all sizes and industries. Proudly minority owned and operated, our unique perspective and years of invaluable business knowledge and expertise have allowed us to evolve into the full-service insurance brokerage we are today. By remaining faithful to our roots, we hope to work in partnership with our clients and create a new future - together. Learn more at www.jmoreyins.com.

Media Contacts

Douglas Menelly
Douglas.Menelly@wtwco.com +1 (516) 972 0380

Arnelle Sullivan
Arnelle.Sullivan@wtwco.com +1 (718) 208-0474

FAQ

What is the purpose of WTW's co-brokerage agreement with The J. Morey Company?

The agreement aims to deliver customized risk management solutions and tailored insurance services for North American exposures of companies headquartered in Japan, aligning resources to provide industry-leading brokerage support.

How does the partnership benefit WTW (NASDAQ: WTW) clients?

Clients will benefit from joint resources, industry expertise, and access to WTW's broad carrier relationships, enabling optimal risk transfer services and solutions for unique exposure needs in markets including Japan and other parts of Asia.

When did WTW create its Asia Risk Division?

WTW created its Asia Risk Division in July 2023, as part of its commitment to expanding its Asian presence in the US marketplace.

What advantages does the co-brokerage agreement bring to The J. Morey Company's clients?

The agreement provides The J. Morey Company's Asian clients access to WTW's Industry Vertical Divisions' expertise and industry knowledge, offering enhanced risk management solutions for their global investments, especially in North America.