Willis Towers Watson (NASDAQ: WLTW), a leading global advisory, broking, and solutions company, has announced that it has signed a definitive agreement to acquire Leaderim, an insurance broking and risk consultancy business in Israel.
Leaderim is one of the top brokers in Israel, with a team of 45 experts offering a range of commercial insurance solutions to the Israeli market. The business was established over 20 years ago and has deep experience in multinational risk programs, reflecting the high number of global companies operating in Israel.
Pamela Thomson-Hall, Head of International, Willis Towers Watson (WTW), said: “This is an exciting step that reflects our global strategy to work with high-performing, high-potential businesses in thriving markets. Welcoming Leaderim into our team strengthens our footprint and capabilities in Israel and the Middle East, while they will benefit from leveraging our global expertise and reach. They have built a solid reputation for innovation and excellence which aligns with our own values and ambitions.”
Oded Haimov, CEO of Leaderim, said: “WTW is a major global broker that believes in the Israeli market for the long term. This vote of confidence leads us to the next stage in our evolution. Working alongside global colleagues at WTW, whose team already knows this market well, our clients will benefit from access to global markets, additional solutions, and crucially the superior data and analytics capabilities WTW is known for. We believe that our transformation into WTW Israel will be good news for businesses in Israel. Through us, potential clients will be able to improve the day-to-day service they receive and insurance products they currently purchase.”
Willis Towers Watson has served clients in Israel for many years through a correspondent partner, so has a strong understanding of the market. Today’s announcement follows an initial heads of terms agreement in August. The two parties have now signed a definitive agreement and will progress towards completing the acquisition, which is subject to typical closing conditions, including regulatory approval. The terms of the transaction are undisclosed.