Willis Group is creating a new human capital and benefits practice which will combine its existing employee benefits and related consulting practices.
The global risk adviser, insurer and reinsurer is to make the move in order to develop and execute a co-ordinated global strategy. These businesses include: pensions and retirement planning; healthcare; group risk and life cover alongside a range of consultative services such as compliance, data analytics, communications, wellness and human resource consulting.
The new practice will be led by Tim Wright (pictured), chief executive officer of Willis International.
The human capital business in Willis North America and Willis International’s employee benefits businesses will also become part of the global human capital and benefits practice, although they will continue to report to their individual geographies.
Wright said: “The new practice will allow us to create a sense of identity and community among our human capital and employee benefits teams around the world.
“It will enable us to agree growth priorities, both organically and inorganically, and leverage capabilities and best practices across the group for the benefit of our clients.
”The human capital benefits practice will work closely with the geographic businesses, together with the newly-formed global industry and product practices.”
Dominic Casserley, chief executive officer of Willis Group, added: “The human capital and employee benefits sector is a compelling long-term growth prospect across the world.
“These are high-growth, differentiated markets driven by changes in demographics, healthcare and social policy. Human capital and benefits are already an important area for Willis but we want to create a stronger and sharper focus to extend our reach in this space.”