Willis Group Holdings Ltd., a global insurance broker based in New York, said Monday that it is buying a Peruvian brokerage and a Brazilian employee benefits firm.
The prices were not disclosed; the sellers' revenue totals about $5.2 million.
Willis has been working with the Peruvian firm, JH Asesores y Corredores de Seguros SA of Lima, on a correspondent basis since 2001. JH Asesores is one of the country's largest brokers and owns a reinsurance operation, JH Corredores de Reaseguros SA. The deal is subject to regulatory approval in Peru.
Buying K.R. Athos Consultoria e Corretora de Seguro de Vida Ltd. of Sao Paulo would double the size of Willis' employee benefits unit there. Employee benefits is the fastest-growing part of the investment products business in Brazil, Willis said.
The New York firm has more than 300 offices in more than 100 countries. Its 15,800 associates serve clients in 180 countries.
