Willis Group Holdings, the global risk advisory, re-insurance broking and human capital and benefits organisation, has completed its acquisition of healthcare adviser and broker PMI Health Group.
The acquisition, which was initially announced in July 2015, aims to expand the organisations’ range of services and global coverage.
PMI Health Group will operate as Willis PMI Group while it is integrated with Willis Employee Benefits over the next six months.
Tony Powis (pictured), chief executive officer of Willis Employee Benefits, will also serve as chairman and CEO of Willis PMI Group.
Powis said: “The market is crying out for a new way of thinking, thanks to a combination of challenges facing [organisations] today in terms of an ageing society, healthcare inflation and social fiscal pressures, not to mention changing workforce attitudes and demands.
“Even though the employee benefits industry tends to be fragmented and siloed in nature, most organisations are keen to understand what their unique employee risks are, and how to manage and mitigate them in a joined-up manner.”
Richard Munro, managing director of Willis PMI Group, added: “The health insurance sector is changing, presenting new opportunities for both insurers and intermediaries.
”With Willis, PMI Health Group can now provide a wider range of benefits to clients, wherever they are located in the world, while delivering the high levels of service expected by our clients and of which we are extremely proud.”