Willis acquires stake in Indian broker Almondz to target Asia

Broker Willis Towers Watson has expanded its insurance broking capabilities in India by acquiring a 49 percent stake in Almondz Insurance Brokers.

The joint venture will combine Willis Towers Watson’s global network with Almondz's team in India.

The chairman of Almondz Insurance Brokers, Rohit Jain, will take on the position of Willis Towers Watson head of India. Vivek Nath, the current managing director of Towers Watson India, will relocate to Singapore to continue to lead Willis Towers Watson, South Asia and its growth strategy.

"This is an exciting development, creating a wealth of opportunities for clients and markets alike, supporting Willis Towers Watson’s growth objectives in India and the region," said Scott Burnett, head of Asia at Willis Towers Watson.

"The joint venture enhances our position in India in terms of talent, expertise and experience. Our clients will have access to data-driven insights powered by best in-class analytical and technology capabilities and to talent with deep sector and industry expertise.”

Jain commented: "Willis Towers Watson has a rich heritage in the insurance industry and I am delighted it has partnered with Almondz. There is increasing market interest and demand for broking services built around a deep expertise in risk management, analytics and differentiated products.

"This combination of Willis Towers Watson’s global experience and Almondz’s local expertise, and our common focus on superior client service, will reap added benefits for our clients, employees and the insurance and reinsurance sector in India."

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