Willis North America to acquire assets of Avalon Actuarial

Willis Group Holdings P.L.C.’s Willis North America unit has entered into a definitive agreement to acquire the assets of Avalon Actuarial Inc., a Montreal-based employee benefits brokerage and actuarial consulting services firm, Willis announced Thursday.

Avalon Actuarial provides products and services focused on group insurance, retirement and pension plans, and other risk management services for corporations and public entities. Avalon Actuarial’s 45 employees and leadership team will join Willis North America’s Canadian operations and continue to serve clients from its existing offices in Montreal and Toronto, Willis said.

“We are thrilled to establish a presence in the Canadian employee benefits market as we see strong demand for specialized employee benefit offerings and ample opportunity for growth,” said Vic Krauze, chairman and CEO, Willis North America, in a statement announcing the deal. “Avalon Actuarial’s extensive experience will allow us to further strengthen our capabilities in this area.”

The transaction is expected to close in the fourth quarter. Terms of the transaction are not disclosed.