Willis Strengthens Position in Asia by Increasing Equity Stake in Malaysian Business
London, UK, July 15, 2009 - In a move to strengthen its standing as one of the
leading global brokers in Asia, Willis Group Holdings (NYSE: WSH), the global insurance broker, today announced
that it has increased its shareholding in its Malaysian business, Willis (Malaysia) Sdn. Bhd, from 30
percent to 49 percent through the acquisition by Willis Europe BV of a further 19 percent
equity stake from joint venture partner Sindora Berhad.
Willis entered Malaysia in 1981 through a joint venture. As part of the current deal, Willis has
bought out Sindora's shares and will be operating in partnership with Abdullah Zahid, the Managing Director
of Willis Malaysia, who now owns 51 percent of the company.
Mr Zahid, who has been a Director of Willis since 1991, has 25 years of experience in
the insurance industry. He is also an associate of the Chartered Insurance Institute.
Roger Wilkinson, CEO of Willis Asia, said, "By partnering with Abdullah, one of the most respected people
in the industry, we have gained the local knowledge and expertise necessary to achieve double-digit growth
and position Willis as the leading broker in Malaysia. We are committed to expanding our footprint
and business in Asia, and we're confident we have a strong growth engine in Malaysia that
will help us do that."
Mr. Zahid said, "Our Malaysian clients enjoy the benefit of excellent service from an experienced local team
of brokers, backed up by the extensive global resources of Willis Group. This is important for
the fast-growing domestic market, but also critical for companies looking to expand into international markets."
Willis Malaysia has 70 Associates located in three offices in Kuala Lumpur, Johor Bahru and Kota Kinabalu.
The company operates as an insurance broker for direct insurance, takaful, reinsurance and retakaful businesses.
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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