Willis Towers Watson PLC has begun operating following the completion of the merger of Willis Group Holdings and Towers Watson yesterday. The company, which will do business as Willis Towers Watson, now has 39,000 employees in more than 120 countries.
Willis Towers Watson expects to generate $4.7 billion in incremental value for shareholders, made up of $375m to $675m in incremental revenues through expanded distribution of Towers Watson’s health care exchange, expansion of Willis’ large-market P&C brokerage business and further globalisation of Towers Watson’s health and group benefits consulting business. It also expects $100m to $125m in annual merger-related cost savings and approximately $75m in annual tax savings.
The company will advise across four business segments: corporate risk and broking; exchange solutions; human capital and benefits; and investment, risk and reinsurance. Willis Towers Watson currently serves 80 per cent of the world’s 1,000 largest companies.
Nicolas Aubert takes the role of head of Great Britain at the new entity.
Willis Towers Watson CEO John Haley says: “Willis Towers Watson is uniquely positioned to see the connections between talent, assets and ideas and how they can lead to strong performance and growth for our clients. We intend to help our clients manage risk and engage their people in a whole new way,” said. “We believe we can change our industry by delivering solutions that are driven by data and analytics, and are integrated, innovative and tailored to meet the evolving needs of our clients.”
Willis Towers Watson president and deputy CEO Dominic Casserley says: “Our focus now is on realizing the full potential of this powerful combination for our clients, our people and our investors. These are two companies with world-class brands, shared values and now, a vastly expanded set of capabilities, people and geographic reach. Together, we can continue to provide the services and solutions our clients have been used to receiving from us, and also create new offerings that they cannot find elsewhere.”