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Willis Towers Watson to acquire remaining 51% shares in WTW India

NEW DELHI: Willis Towers Watson, a global advisory, broking, and solutions company, has signed an agreement to acquire the remaining 51% stake from Anemone Holdings Private Ltd and Rohit Jain in Willis Towers Watson (WTW) India.

“WTW currently owns 49% stake in Willis Towers Watson India Insurance Brokers Private Limited (WTW India) and recent changes in regulation have made it possible for WTW to own up to 100% of WTW India,” the company said in a statement.

The transaction is subject to customary legal and regulatory approvals.

“As one of the world’s largest and fastest growing economies, with an expected 17% growth rate in the non-life insurance market over the next five years, we see rising demand and opportunities for cyber, health and benefits, crop and surety insurance in the Indian market. Acquiring 100% ownership of WTW India will enable us to further capitalise on the significant growth opportunities in this market and to better serve the rapidly evolving needs of our clients in India,” said Pamela Thomson-Hall, Head International, WTW.

At the recent COP 26 Summit, India highlighted the need for climate finance worth $1 trillion to tackle climate risks. In essence, a large proportion of this will go towards managing the transition risks of moving towards a low carbon economy. WTW can enable India to manage the climate transition risks and optimise costs through the much-needed combination of our climate expertise, actuarial risk modelling techniques and development of a suitable risk transfer mechanism, including insurance, as per the advisory firm’s statement.

“…WTW already has a significant presence in India and this acquisition is another important milestone towards bringing our clients the best-in-class products and solutions, technology and unprecedented insight for sound risk-based decision making,” said Rohit Jain, head India, WTW.

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