Willis’ Networks of Independent Brokers Continue to Expand
Willis Commercial Network and Willis N2 Aim to Become UK’s Biggest Networks in Next Three Years
London, UK, November 4, 2008 – Willis Group Holdings (NYSE: WSH), the global insurance broker, said today 10 new members have joined the Willis Commercial Network, its partnership with local, independent insurance brokers in the UK. Including the new members who joined this year, total membership is now at 79 and Willis said its Networks – the Willis Commercial Network and the newly launched Willis N2 – are aiming to become the largest partnerships of their kind in the UK over the next three years.
Founded in 1998, the Willis Commercial Network represents brokers placing annual premiums of between £4 million to £8 million. It gives members access to Willis’ global resources and facilities, including its specialist divisions and training programmes. By partnering with Willis, but still maintaining their independence, Network members gain increased leverage with insurers for better products, client servicing and policy terms. Willis N² is a similar concept that serves independent, community brokers – those with premium placements under £2.5 million annually. Willis N2 seeks to attract 120 members within three years.
The ten newest members of the Willis Commercial Network are: KL Plester Insurance Services Ltd, John Henshall Ltd, WK Insurance Group, Rowland and Hames, H&R Insurance Services, Bradshaw Bennett, Ross Lloyd, Munro Greenhalgh, C Tarleton Hodgson & Son Ltd and David C Jones.
Welcoming the new members, Mark Radburn, Managing Director, Willis Networks, said, “The Willis Commercial Network proposition has proved to be very successful and we are on target to grow our membership to 100 over the next three years. In an extremely competitive soft market, regional brokers use our Networks to access attractive commission rates and to obtain unique products and the best service for their clients. As regulation gets tighter, brokers are also seeking advice and assistance with their compliance programmes, which is a core strength of Willis.”
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 400 offices in nearly 120 countries, with a global team of approximately 20,000 Associates serving clients in some 190 countries. Additional information on Willis may be found at www.willis.com.
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