Willis Towers Watson plans expansion in Israel through proposed acquisition of Leaderim
LONDON, Aug. 25, 2021 (GLOBE NEWSWIRE) -- Willis Towers Watson (NASDAQ:WLTW), a leading global advisory, broking, and solutions company, today announced that it has entered into an initial, non-binding agreement to acquire Leaderim, an insurance broking and consultancy business in Israel.
Leaderim is one of the leading insurance brokers in Israel and was established over 20 years ago. Its team of 45 professionals offers a broad range of commercial insurance solutions to the Israeli market. It also has significant experience in creating multinational risk programs, reflecting the large concentration of global companies operating in Israel.
Pamela Thomson-Hall, Head of Central and Eastern Europe, Middle East and Africa at Willis Towers Watson (WTW), said: “This is a significant and exciting growth opportunity for us both in the Middle East and globally. We are focused on investing in high quality businesses, exceptional talent and thriving markets, and our agreement with Leaderim reflects that strategy. Leaderim’s reputation for quality, innovation and integrity is well known in the Israeli business world and beyond, and their values complement our own drive to serve our clients.”
Oded Haimov, CEO of Leaderim said: “We have built this business with pride over 20 years and entering into a preliminary agreement is not something we have done lightly. This is the next stage in our evolution. Working alongside global colleagues at WTW, whose team already knows this market and neighboring markets well, our clients will benefit from access to global colleagues, additional offerings, and crucially the superior data and analytics capabilities WTW is known for. We have enjoyed fruitful discussions so far and we are hopeful that a formal agreement can be reached in due course.”
Today’s announcement signals that the two parties have signed heads of terms and will now move towards completing the acquisition. Any transaction would be subject to completion of definitive agreements, and legal and regulatory approvals.
Willis Towers Watson has operated in Israel for many years through a correspondent partner, so has a strong understanding of the market. It serves other Middle East countries through a long-established network of correspondent partners, and also benefits from an extensive owned presence throughout the region, including operations in Egypt, Jordan, Kuwait, Lebanon, Saudi Arabia and the United Arab Emirates.
About Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets.
We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance.
Together, we unlock potential. Learn more at willistowerswatson.com.
Leaderim is one of the leading insurance brokers in Israel, arranging commercial insurance portfolios and providing independent consultancy services for clients with a professional, dynamic and innovative approach. For more than two decades it has specialised in formulating tailor-made insurance solutions for clients’ diverse needs and providing independent insurance consultancy services to Israeli corporations operating locally and worldwide. Its staff is comprised of veteran account executives providing professional and unparalleled service to clients including assisting them in dealing with large and complex insurance claims.
Clients include leading Israeli companies in the fields of industry, commerce, capital markets, hi-tech and biotech, aviation, infrastructure and energy.
Paul Platt: +44 (0)20 3124 7659 | firstname.lastname@example.org