Insurance and reinsurance broker Willis Towers Watson has acquired risk advisor and insurance broker Dero Courtage to boost its presence in French market.
Financial terms of the transaction have not been disclosed.
Headquartered in Le Havre, Dero Courtage will now operate under the brand of Willis Towers Watson’s French business, Gras Savoye Willis Towers Watson France.
Commenting on the deal, Willis Towers Watson head of western Europe Paul Morris said: “The Dero team bring a wealth of experience and industry knowledge, and I’d like to offer them a warm welcome.
“France is a key market for us and this move reinforces our leading position as a global adviser with an extensive local network.”
Pursuant to the terms of the transaction, Dero Courtage current CEO Christophe Dero will assume the role of managing director of the new business unit. He will be supported by the senior management team of Jérôme Lees and Bruno Poyac.
The existing teams based in Le Havre will continue to be the main contacts of Dero Courtage’s clients.
Christophe Dero said: “Joining such a prominent French risk adviser enables us to benefit from the full strength of Willis Towers Watson, and the wide range of solutions they offer, including human capital management.
“It will allow us to consolidate and expand our ability to support our clients in their development and their access to new markets, especially in international business.”