Insurance broker Willis Towers Watson announced it has signed a definitive agreement to acquire Leaderim, an insurance broking and risk consultancy business in Israel.
Financial terms of the deal were not disclosed.
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. Clients include leading companies in the fields of industry, commerce, capital markets, hi-tech and biotech, aviation, infrastructure and energy.
“This is an exciting step that reflects our global strategy to work with high-performing, high-potential businesses in thriving markets,” commented Pamela Thomson-Hall, head of International, WTW.
“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,” she added.
“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,” said Oded Haimov, CEO of Leaderim.
“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,” Haimov continued. “We believe that our transformation into WTW Israel will be good news for businesses in Israel.”
Willis Towers Watson has served clients in Israel for many years through a correspondent partner, so has a strong understanding of the market, explained WTW.
The two parties have signed a definitive agreement and will progress towards completing the acquisition, which is subject to typical closing conditions, including regulatory approval.
Source: Willis Towers Watson
Topics Mergers & Acquisitions Agencies Leadership Willis Towers Watson Israel
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