Willis Italy, part of Willis Group Holdings, has acquired insurance broker Broking Italia, which specialises in employee benefits.
Broking Italia, founded in 1985, offers insurance brokerage services for firms, families and supplementary pension funds and health care.
As part of the acquisition, Broking Italia founder Gianfranco Agostini will become deputy chairman of Willis Italy’s board and will manage Broking Italia with his co-founder Daniela Andreussi.
Willis Italy co-CEO Guido De Spirt said that Broking Italia’s extensive experience in Employee Benefits and private pension funds will allow them to further strengthen their position in these areas, which are flagship businesses of Willis Group globally.
Terms of the transaction were not disclosed.
As a result of the acquisition, Willis Group, which has eight offices and 350 employees in Italy, will see its Rome headcount go up to 60.