Willis Towers Watson plans expansion in Israel through proposed acquisition of Leaderim
August 25 2021 - 9:58AM
Willis Towers Watson (NASDAQ:WLTW), a leading global advisory,
broking, and solutions company, today announced that it has entered
into an initial, non-binding agreement to acquire Leaderim, an
insurance broking and consultancy business in Israel.
Leaderim is one of the leading insurance brokers in Israel and
was established over 20 years ago. Its team of 45 professionals
offers a broad range of commercial insurance solutions to the
Israeli market. It also has significant experience in creating
multinational risk programs, reflecting the large concentration of
global companies operating in Israel.
Pamela Thomson-Hall, Head of Central and Eastern Europe, Middle
East and Africa at Willis Towers Watson (WTW), said: “This is a
significant and exciting growth opportunity for us both in the
Middle East and globally. We are focused on investing in high
quality businesses, exceptional talent and thriving markets, and
our agreement with Leaderim reflects that strategy. Leaderim’s
reputation for quality, innovation and integrity is well known in
the Israeli business world and beyond, and their values complement
our own drive to serve our clients.”
Oded Haimov, CEO of Leaderim said: “We have built this business
with pride over 20 years and entering into a preliminary agreement
is not something we have done lightly. This is the next stage in
our evolution. Working alongside global colleagues at WTW, whose
team already knows this market and neighboring markets well, our
clients will benefit from access to global colleagues, additional
offerings, and crucially the superior data and analytics
capabilities WTW is known for. We have enjoyed fruitful discussions
so far and we are hopeful that a formal agreement can be reached in
due course.”
Today’s announcement signals that the two parties have signed
heads of terms and will now move towards completing the
acquisition. Any transaction would be subject to completion of
definitive agreements, and legal and regulatory approvals.
Willis Towers Watson has operated in Israel for many years
through a correspondent partner, so has a strong understanding of
the market. It serves other Middle East countries through a
long-established network of correspondent partners, and also
benefits from an extensive owned presence throughout the region,
including operations in Egypt, Jordan, Kuwait, Lebanon, Saudi
Arabia and the United Arab Emirates.
About Willis Towers Watson
Willis Towers Watson (NASDAQ: WLTW) is a leading global
advisory, broking and solutions company that helps clients around
the world turn risk into a path for growth. With roots dating to
1828, Willis Towers Watson has 45,000 employees serving more than
140 countries and markets.
We design and deliver solutions that manage risk, optimize
benefits, cultivate talent, and expand the power of capital to
protect and strengthen institutions and individuals. Our unique
perspective allows us to see the critical intersections between
talent, assets and ideas — the dynamic formula that drives business
performance.
Together, we unlock potential. Learn more at
willistowerswatson.com.
About Leaderim
Leaderim is one of the leading insurance brokers in Israel,
arranging commercial insurance portfolios and providing independent
consultancy services for clients with a professional, dynamic and
innovative approach. For more than two decades it has specialised
in formulating tailor-made insurance solutions for clients’ diverse
needs and providing independent insurance consultancy services to
Israeli corporations operating locally and worldwide. Its staff is
comprised of veteran account executives providing professional and
unparalleled service to clients including assisting them in dealing
with large and complex insurance claims.
Clients include leading Israeli companies in the fields of
industry, commerce, capital markets, hi-tech and biotech, aviation,
infrastructure and energy.
Media Contact
Paul Platt: +44 (0)20 3124 7659 |
paul.platt@willistowerswatson.com
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