Daily Insurance Industry News
 
 
Daily Insurance Industry News
Tuesday 16th of October 2018
July 15, 2008

Willis bolsters Hungarian presence

by Richard Kilner

Story link: Willis bolsters Hungarian presence

Willis Group Holdings has furthered its ambition to become the leading broker in the CEE (Central and Eastern Europe) through the acquisition of 100% of Willis Kft.

Willis Kft operates in Hungary, and was a joint venture between Willis and Erix, a local partner which held 20% until Willis bought it.

The purchase’s terms are unknown, and the deal was completed at the end of June.

Originally, Willis had sold the 20% stake to Erix back in 1997, with the Hungarian firm taking over management of Willis’ operations within the country.

Doug Pritchard has been appointed as managing director of Willis Kft.

Pritchard is presently MD for Willis Czech Republic and Slovakia as well, and will retain his base in Prague for his new position.

 

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