Willis Towers Watson, a London based insurance advisory and brokerage firm has acquired a 49% stake in New Delhi-based Almondz Insurance Brokers in India.
The British firm, Willis Towers Watson was founded in 1828 and has 40,000 employees globally in 140 countries. The joint venture will combine Willis Towers Watsons global network with Almondz’s team of 300 associates in 9 offices in India and will be offering analytics, brokerage, advisory, risk and capital management services.
Current chairman of Almondz, Rohit Jan will now become the India head of Willis Towers Watson whilst the MD of WTW’s India operations, Vivek Nath, will be working out of Singapore and will see his portfolio expand to include South East Asia.
Rohit Jan said "There is increasing market interest and demand for broking services, with this combination there are distinct benefits for our clients, employees and the insurance and reinsurance sector in India,"
Head of Asia, Willis Towers Watson said “This is an exciting development, creating a wealth of opportunities for clients and markets alike."