Willis Group Holdings has signed an agreement to acquire Primary Worldwide Corporation, an insurance broker based in Los Gatos, California. The transaction is expected to close in the first quarter.
With annual revenues of approximately $4 million, Primary provides group benefits insurance brokerage and human resources consulting and outsourcing services for middle-market companies in California.
Primary’s client base includes many technology leaders located in the Bay Area, many of which have had a relationship with Primary that exceeds 15 years.
Over the last few years, we have made a series of investments in our employee benefits practice, said Joe Plumeri, chairman and CEO of Willis. Today, our acquisition of Primary is yet another demonstration of our commitment to grow this unit. This acquisition also represents our commitment to grow our business in the western region of the US.