Willis Towers Watson Agrees to Acquire Remaining 51% Stake in WTW India

Insurance broker Willis Towers Watson announced the signing of an agreement to acquire the remaining 51% shares from Anemone Holdings Private Ltd and Rohit Jain in Willis Towers Watson (WTW) India.

WTW currently owns 49% of Willis Towers Watson India Insurance Brokers Private Ltd. (WTW India), and recent changes in regulation have made it possible for WTW to own up to 100% of WTW India.

Financial details of the transaction were not disclosed.

“As one of the world’s largest and fastest growing economies, with an expected 17% growth rate in the non-life insurance market over the next five years, we see rising demand and opportunities for cyber, health and benefits, crop and surety insurance in the Indian market,” commented Pamela Thomson-Hall, head of International, WTW.

“Acquiring 100% ownership of WTW India will enable us to further capitalise on the significant growth opportunities in this market and to better serve the rapidly evolving needs of our clients in India,” she added.

Thomson-Hall said WTW “can play a significant role to help raise the under-penetration of insurance and close the protection gap that the country needs.”

“These are unprecedented times for humanity and businesses, especially the risks that confront both. Emerging forms of risks like climate change, pandemic, cyber threats and the growing health-wealth gap demand immediate and comprehensive solutions that address risk mitigation, incident response and compensation for loss,” said Rohit Jain, head of India, WTW.

“WTW already has a significant presence in India, and this acquisition is another important milestone towards bringing our clients the best-in-class products and solutions, technology and unprecedented insight for sound risk-based decision making.”

This transaction is subject to customary legal and regulatory approvals.

Source: Willis Towers Watson

Topics Mergers & Acquisitions Willis Towers Watson