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Daily Insurance Industry News
Friday 27th of April 2018
February 29, 2012

Willis Peru partners Creditcorp

by Gill Montia

Story link: Willis Peru partners Creditcorp

Willis has announced that Peruvian financial services group, Credicorp Ltd, has acquired 49.9% of Willis Peru, a previously wholly-owned subsidiary.

Willis Peru has also entered into a commercial agreement for the provision of affinity insurance services to affiliates of Credicorp, and Carlos Miguel Vidal Buckley has been named chief executive officer of Willis Peru, subject to regulatory clearance.

Mr Buckley joins from the Credicorp group of companies where he has held a number of strategic and operational senior management positions.

Overall, he has over 18 years of experience in the insurance industry and commercial insurance broking market in Peru.

Jaime Herrera, the chief executive officer of Willis Peru since 2005, is taking up the post of non-executive president of Willis Peru.

Commenting on the new partnership, Sarah Turvill, chairman of Willis International, says: “This transaction makes excellent commercial sense for Willis and Credicorp.”

“In today‚Äôs world, issues such as convenience, availability, channel loyalty and after sales service are increasingly important.

“It is no longer just the product that counts, but how, when and where it is delivered to the customer,” Ms Turvill adds.

Willis Peru has operated in the Peruvian market for over 40 years and currently employs around 90 people.

 

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