Leading Global Insurance Broker in Ireland Changes Name to Willis
-- Move from Coyle Hamilton Willis Reflects Increasingly Global Nature of Business--
Dublin, IR, August 27, 2008 – Coyle Hamilton Willis, the Irish subsidiary of Willis Group Holdings (NYSE:WSH), the global insurance broker, will change its name to Willis Risk Services (Ireland) Limited, effective September 15, 2008. The move reflects Coyle Hamilton’s growing international business presence as part of the Willis global network. Willis acquired a majority stake in Coyle Hamilton, one of Ireland’s oldest and most-respected insurance brokers, in 2004.
Commenting on the rationale behind the name change, Brendan McManus, CEO, Willis UK & Ireland said, “Coyle Hamilton Willis’ local knowledge and outstanding service, backed by Willis’ global resources, has enabled us to significantly improve our offering for both domestic and international firms operating in the Irish market. Against this backdrop of success, we decided to change our name to reflect Coyle Hamilton’s full integration into Willis and the increasingly global nature of our business in Ireland.”
Coyle Hamilton Willis CEO Jim O’Mahoney said, “As part of the global Willis family, we have access to the most advanced broking systems, knowledge base and exceptionally strong relationships with key insurance companies across the world. We have also been able to invest in our own facilities and training to ensure that our products and services are best-in-class both in Ireland and internationally. We are proud of our new brand and are excited about the future of this great company.”
The soon-to-be-renamed operation, with annual revenues of over €40 million, employs 320 Associates and has offices its Dublin, Limerick and Cork. The broker recently relocated its Dublin headquarters to a landmark new office in Grand Mill Quay.
Coyle Co. was established in 1903 and, following a merger with Hamilton and Hamilton and V.P. Phillips in 1970, the insurance broker became known as Coyle Hamilton. In 2004, Willis acquired 51 percent of Coyle Hamilton, which was renamed Coyle Hamilton Willis. In 2007, Willis increased its ownership of Coyle Hamilton Willis to 86 percent, and intends to acquire the balance in the future.
Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 300 offices in some 100 countries, with a global team of approximately 16,000 Associates serving clients in some 190 countries. Additional information on Willis may be found at www.willis.com.