Willis shareholders back move to Ireland

| December 14, 2009 | 0 Comments

The shareholders of global insurance broker Willis Group Holdings Limited have voted to move the place of incorporation of parent company Willis Group from Bermuda to Ireland.

The proposal was backed by the Board of Directors in September, with Ireland preferred because, as Chairman and CEO Joseph J. Plumeri stated, it offered the firm economic advantage and the chance to retain its competitive edge.

The proposal will now go to the Supreme Court of Bermuda for approval, with a meeting timetabled for 18 December.

Should the green light be given the firm expects the reorganisation to be completed by the turn of the year, or thereabouts.

When the reorganisation is done, Willis Group Holdings Limited will be replaced by Willis Group Holdings plc as the ultimate public holding company of Willis Group.

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Category: Companies News, Insurance News, Willis News

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