Willis Towers Watson confirms acquisition of Israel-based broker Leaderim
Willis Towers Watson has confirmed it has reached an agreement to acquire Israel-based insurance broking and risk consultancy business Leaderim.
Financial terms were not disclosed.
News that Willis had entered an initial non-binding agreement to buy Leaderim was reported in August.
Leaderim, established more than 20 years ago, employs 45 people.
It offers a range of commercial insurance solutions to the Israeli market and has experience in creating multinational risk programmes.
Willis has operated in Israel for several years through a partner organisation. It serves other Middle Eastern countries through a network of partners, in addition to its own operations in Egypt, Jordan, Kuwait, Lebanon, Saudi Arabia and the United Arab Emirates.
The companies will now move towards completing the deal, subject to closing conditions, such as regulatory approval.
In August, Willis’ head of Central and Eastern Europe, the Middle East and Africa, Pamela Thomson-Hall, said: “This is a significant and exciting growth opportunity for us both in the Middle East and globally.
“We are focused on investing in high-quality businesses, exceptional talent and thriving markets, and our agreement with Leaderim reflects that strategy.”