Willis Group has acquired the remaining 70% of Gras Savoye, solidifying its stronghold in the French insurance market and providing opportunities for growth in high-potential regions.
Information on the Target
Willis Group Holdings plc (NYSE: WSH) is a prominent global risk advisory, re/insurance broking, and human capital and benefits firm that has recently acquired Gras Savoye, a top insurance broker in France, from Astorg. On April 22, 2015, Willis Group announced a firm offer to acquire the remaining 70% of Gras Savoye that it did not already own, solidifying a strategic partnership that has been evolving for over four decades.
The collaboration aims to leverage the strengths of both organizations in order to provide innovative solutions for managing risk and personnel. With Willis’s extensive international reach combined with Gras Savoye's strong influence in France, Central and Eastern Europe, and Africa, this acquisition is expected to create significant value for their clients as well as compelling offerings for carriers.
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Industry Overview in France
The insurance brokerage industry in France is one of the most sophisticated and highly competitive markets in Europe. As a mature market, it showcases a wide range of services offered by brokers that include risk management
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Willis Group Holdings plc
invested in
Gras Savoye
in 2015
in a Corporate VC deal
Disclosed details
Revenue: $426M
EBITDA: $70M