Willis Towers Watson acquires 49% stake in Almondz Insurance Brokers
Willis Towers Watson, a leading global advisory, broking and solutions company has acquired a 49% stake in Almondz Insurance Brokers in India. The joint venture will combine Willis Towers Watson’s global network and expertise with Almondz’s skilled team and wealth of experience in India.
The company also announced a change in the Indian leadership. “We are also pleased to announce that Rohit Jain, who is the Chairman of Almondz, will take on the Willis Towers Watson head of India position, whilst Vivek Nath will relocate to Singapore to continue to lead Willis Towers Watson, South Asia and its growth strategy”, said Scott Burnett, Head of Asia, Willis Towers Watson.
Almondz is a leading Indian composite insurance broker with over 300 associates in nine offices in India serving clients with a broad range of products and services across diversified industries and segments.
Scott said “This is an exciting development, creating a wealth of opportunities for clients and markets alike, supporting Willis Towers Watson’s growth objectives in India and the region. The joint venture enhances our position in India in terms of talent, expertise and experience. Our clients will have access to data-driven insights powered by best in-class analytical and technology capabilities and to talent with deep sector and industry expertise.”
The combination enhances Willis Towers Watson’s capability in India to provide a full complement of advice, analytics, specialty capabilities and solutions covering benefits; brokerage and advisory; risk and capital management; and talent and rewards.
Rohit Jain, Chairman, Almondz Insurance Brokers Private Limited said, “Willis Towers Watson has a rich heritage in the insurance industry and I am delighted it has partnered with Almondz. There is increasing market interest and demand for broking services built around a deep expertise in risk management, analytics and differentiated products. This combination of Willis Towers Watson’s global experience and Almondz’s local expertise, and our common focus on superior client service, will reap added benefits for our clients, employees and the insurance and reinsurance sector in India”.