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ULM, Germany Watson Wyatt Worldwide is continuing its focus on Germany, announcing that it is forming an alliance with Institut für Finanz and Aktuarwiÿenschaften, a German insurance consultancy.
Under the terms of the arrangement, which will come into force at the beginning of 2008, Watson Wyatt will acquire 20% of IFA's operations, while Watson Wyatt's German insurance operation will be integrated into IFA.
In a statement, Watson Wyatt said that, "the alliance strengthens Watson Wyatt's position in the German insurance consulting market and in provides IFA and its clients access to Watson Wyatt's international network."
The alliance comes in the wake of Watson Wyatt's recent announcement that it is to acquire Heissmann, a German pensions, benefits and human resources consultants.