Willis Group Holdings plc is a multinational risk advisor, insurance
brokerage and reinsurance brokerage company with its headquarters in
the Willis Building in London. It is the world's fourth-largest
insurance broker when measured by revenues. Willis has around 400
offices in 120 countries and approximately 18,000 employees.
Willis was previously listed on the
New York Stock Exchange
New York Stock Exchange before its
early-2016 'merger of equals' with Towers Watson. After the deal
closed, the combined company began trading on the
under the symbol, WLTW (Nasdaq: WLTW).
6 See also
8 External links
The Willis Building in London
The company was founded by Henry Willis in
London in 1828, and
initially operated as Henry Willis & Co. In 1898 it merged with
Faber Brothers (founded in 1886) to form Willis Faber, and then in
1928 it merged with Dumas & Wylie (founded in 1843) to create
Willis, Faber & Dumas. It was first listed on the
Exchange in 1976 as Willis Faber.
It expanded into the United States in 1990 when it merged with Corroon
& Black (founded as R. A. Corroon & Co. in 1905) to form the
Willis Corroon Group. In 1998 in a leveraged buyout the Company was
acquired by Trinity Acquisition on behalf of Kohlberg Kravis
Roberts, and in 1999 the name
Willis Group was adopted. It was
first listed on the
New York Stock Exchange
New York Stock Exchange in 2001.
In October 2008, Willis acquired Hilb, Rogal & Hobbs Co. (HRH),
one of the largest insurance and risk management intermediaries in
North America and this has boosted their North American presence, as
well as acquired Glencairn Limited which has augmented its Lloyd's of
London Market strength.
Willis announced plans in 2009 to relocate its registered office from
Bermuda to Ireland. Its shareholders approved the move in December
2009, and the company announced on 31 December 2009, that its
reorganisation has been completed and the new parent company of the
Willis Group – known as
Willis Group Holdings Public Limited Company
– is incorporated in Ireland.
Main article: Willis Towers Watson
On June 30, 2015,
Willis Group announced it would merge with Towers
Watson to create Willis Towers Watson. The combined company operates
in 120 countries, with a workforce of approximately 39,000 employees,
revenues of $8.2 billion and a value of $18 billion. The merger
was concluded on 5 January 2016 after all regulatory approvals were
Willis Tower in Chicago
Willis moved into the Willis Building, its new
London headquarters, in
The Willis Building in Ipswich, England, is one of the earliest
buildings designed by Norman Foster after establishing Foster
Associates. Constructed between 1970 and 1975 it is now seen as a
landmark in the development of the 'high tech' architectural style. It
is one of the youngest buildings to be given Grade I listed building
status in Britain.
The 108-story Sears Tower in Chicago was renamed the
Willis Tower in
July 2009. Willis secured the naming rights as part of its agreement
to lease 140,000 square feet (13,000 m2) of space in the
3,800,000-square-foot (350,000 m2) tower. It was the world's
tallest building from 1974 until 1998, when it was surpassed by the
Petronas Towers in Kuala Lumpur, Malaysia.
Willis has 400 offices in more than 100 countries.
Willis Group is sponsor of The Willis Resilience Expedition, a
scientific program in
Antarctica to better understand our changing
climate and build resilience to weather-related risk.
Marsh & McLennan Companies
^ "Top Global Insurance Brokers". Retrieved 13 July 2015.
Willis Group Holdings Fact Book".
Willis Group Holdings. Retrieved
21 August 2010.
^ Tan, Gillian (9 Dec 2015). "Towers Watson's Odd Choice of Words".
BloombergGadfly. Retrieved 7 May 2016.
^ a b c d e f g h Willis: History
Insurance broker Willis to buy HRH, Business Week, June 2008
^ Willis Proposes Change in Place of Incorporation to Ireland, Press
^ "Willis Investor Relations", 31 December 2009
Willis Group holders agree to move co. to Ireland", Associated
Press, 11 December 2009. Retrieved 17 December 2009
Willis Group and
Towers Watson Announce Merger to Create Leading
Global Advisory, Broking and Solutions Firm", 30 June 2015.
^ "Willis and
Towers Watson to merge in $18B deal". CNBC. Retrieved 30
^ Comtois, James (2015-07-13). "Towers Watson, Willis merger to
combine strengths". Pensions & Investments. Crain Communications,
Inc. Retrieved 2015-09-07.
^ Crunch? And the Willis building is sold, World Architecture News, 13
^ "Pioneering management guidelines for modern listed buildings".
Context. September 1995.
Willis Tower Becomes Official: Sears Tower Renamed", Huffington
Post, 17 July 2009
^ Fodor's Chicago 2010, p. 125, Stephanie Butler, Kelly Kealy, Alexis
Kelly, Random House, Inc., 2009, ISBN 1-4000-0860-3. Retrieved 17
^ Willis: The Willis Way
^ Five minutes with...teen polar explorer Parker Liautaud Travel Bite,
30 September 2013