Willis Group Acquires Gueits, Adams & Company Strengthening Fine Art, Jewelry and Specie Group.NEW YORK -- Willis Group Holdings Limited (NYSE NYSE See: New York Stock Exchange : WSH), the global insurance broker, announced today the acquisition of Gueits, Adams & Company. Located in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Gueits, Adams specializes in jewelers block insurance and has annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of approximately $4 million. Terms are not disclosed. The transaction was effective as of February 1, 2006. "This acquisition is part of our strategy to reinforce our position in existing businesses in order to foster continued growth," said Joe Plumeri, Chairman and Chief Executive Officer of Willis. "It complements our acquisition of International Insurance Brokers earlier this year. Gueits, Adams has a reputation of excellent service and unmatched knowledge of its industries. The combination of their broking capabilities, concern for the client and entrepreneurial spirit make them a great fit with the Willis culture." Founded in 1989 by Edward Gueits and Gerard Adams, Gueits, Adams & Company is engaged in the sale of insurance to businesses, primarily in the jewelry industries in the United States. The agency prides itself on excellent customer service and knowledge of this industry. Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. , risk management, financial and human resource consulting Services Provided Human Resource Consulting firms provides advice to their clients regarding the financial and retirement security, health, productivity, and employment relationships of their global workforce. and actuarial services to corporations, public entities and institutions around the world. With over 300 offices in over 100 countries, its global team of 15,800 Associates serves clients in 180 countries. Willis is publicly traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol WSH. Additional information on Willis may be found on its web site: www.willis.com. |
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