Willis Towers Watson completes acquisition of French aviation broker
Posted On: Mar. 1, 2017 9:43 AM CST
Willis Towers Watson P.L.C. said Wednesday that it has completed its acquisition of a Paris-based aviation brokerage’s team and book of business.
Terms of the transaction were not disclosed.
Founded in 1898, Office d’Assurances Aériennes G. de Cugnac has a 16-member team dedicated to aviation insurance solutions. The team has been added to the Willis Towers Watson global aerospace team, and OAAGC’s existing client base will continue to be serviced by the same team, Willis Towers Watson said in a statement.
OAAGC has had a relationship with Willis Towers Watson through its partnership with Gras Savoye & Cie., which owned 40% of OAAGC, and through its links with the aviation team at Willis.
Willis Group Holdings P.L.C. acquired Gras Savoye in December 2015 before merging with Towers Watson & Co. in January 2016.
Willis Towers Watson is the world’s third-largest insurance brokerage, according to Business Insurance’s latest ranking.