Willis Towers Watson has acquired a 49% stake in Indian composite insurance broker Almondz, the joint venture will combine Willis’ global network and expertise with Almondz’ local reach and clientele.
Almondz serves clients across a broad range of industries and sectors with nine offices throughout the country and over 300 associates.
Almondz Insurance Brokers Chairman, Rohit Jain, who is set to take on the Willis head of India position, said; “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.”
Vivek Nath will relocate to Singapore to continue to lead Willis Towers Watson, South Asia, heading up its growth strategy.
Scott Burnett head of Asia, Willis Towers Watson, commented on the 49% acquisition; “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.”