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    Willis and Allianz Implement e-Accounting

    London, UK, November 13, 2012 - The London-based operations of Willis Limited, the principal UK broking company of global insurance broker, Willis Group Holdings plc (NYSE:WSH), and Allianz Global Corporate & Specialty (AGCS), a leading global insurer, today announced the successful launch of a full electronic accounting process between the two companies, using the current (2010.2) ACORD data standard and exchanging messages via TMEL (The Message Exchange Limited).

    The announcement represents a continuation in the adoption of e-Accounting in the London Market. Both Willis and AGCS are members of the LMG Non-Bureau Working Group, part of an on-going London insurance industry modernisation initiative to reduce paper-based transactions and to improve accounting and settlement performance.

    Kevin Ahern, Managing Director of Accounting & Settlement for Willis Limited said: “Our roll-out of e-Accounting as a means to drive efficiencies and improve service continues and we remain actively involved with the LMG e-Accounting group and the Global Ruschlikon initiative. Implementing e-Accounting and sending contemporary ACORD messages will improve data integrity, reduce queries and re-work, reduce levels of unmatched cash and improve reconciliation and settlement turnaround.”

    Paul Owens, Chief Operations Officer for Willis Limited and Willis Relationship Director for Allianz commented: “AGCS is a very important Willis Group carrier and has been an enthusiastic partner in this e-Accounting launch. We look forward to realising the benefits of e-Accounting with Allianz moving forward. This successful implementation demonstrates the value of the ‘Willis Repeatable Model’ for e-Accounting implementation and we continue to work with other carrier partners towards further roll-outs.”

    Carsten Scheffel, CEO Regional Unit London for Allianz Global Corporate & Specialty, commented: “Growing our relationship with Willis and Web Connectivity Limited (our IT provider) with the implementation of electronic Accounting and Settlement is a positive step forward. This was only achieved through continued teamwork and commitment over the last few months. I am looking forward to seeing further enhancements to Accounting & Settlement in the coming months.”

    Chris Thevenot, Regional Head of Operations for Allianz Global Corporate & Specialty London, commented: “AGCS and Willis have successfully cooperated to further develop and implement the eAccounting solution for simple and also complex transactions. The London Market has no choice but to continually refine and modernise its processes to remain a preeminent worldwide insurance centre. eAccounting represents a significant step in this direction.”

    Danny Kitcherside, Regional Head of Accounting for Allianz Global Corporate & Specialty London, commented: “AGCS have worked extremely closely with Willis during recent months and are delighted to have participated in the project for what we consider to be the way forward for the management of Non London Market Bureau receivables. In these continually challenging market conditions we look forward to eAccounting assisting us with our receivables management through improved cashflow, elimination of unallocated cash and increased investment returns. Our aim is to expand our participation in the eAccounting world with Willis and other London market brokers.”

    About Willis

    Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers 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 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at www.willis.com.

    About Allianz Global Corporate & Specialty
    Allianz Global Corporate & Specialty is Allianz SE's dedicated brand for corporate and specialty insurance business. AGCS provides insurance and risk management support across the whole spectrum of marine, aviation and corporate business, including Energy, Engineering, Financial Lines (incl. D&O), Liability and Property insurance, including International Insurance Programs. Worldwide, Allianz Global Corporate & Specialty operates in over 150 countries through the Allianz Group network and through network partners. It employs more than 3,400 people and provides insurance solutions to more than half of the Fortune Global 500 companies, writing a total of €4.9 billion gross premium worldwide annually (2011).

    Notes to Editors:

    About Rüschlikon:
    The Rüschlikon initiative is driven by a group of leading global (re)insurance companies, together with ACORD, to further automate (re)insurance back office processes (technical accounting, claims, settlement) using ACORD RLC (Re)insurance and Large Commercial) standards. The Rüschlikon Initiative’s mission is to reshape the (re)insurance industry, through the design and implementation of processes that reduce operational cost and enhance client service The initiative Founder Members were Willis, Swiss Re, Munich Re, SCOR, and Aon Benfield, working together with ACORD.

    About London Market Group (LMG) Non Bureau Working Group:

    The Rüschlikon Initiative has also influenced London Carriers with the formation of the London Market Group’s (LMG) Non Bureau Working Group which includes representatives from Willis, Allianz, X/L, ACE, Generali, QBE, Chartis, Chubb, RSA, and Aon Benfield. The group is supported by the LMG Secretariat and ACORD.

    About e-Accounting:
    e-Accounting is a data-based process for facilitating financial agreement and subsequent settlement of premiums and claims with insurance carriers. Through better synchronisation between brokers and carriers, the online system markedly improves client service by enhancing the quality, transparency and integrity of the accounting and settlement process


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