Towers Watson expands investment services for insurers and reinsurers with acquisition of WellsCanning

Press release

Published October 6th, 2011 - 08:14 GMT

Al Bawaba

Towers Watson, a leading global professional services company, today announced that it has acquired the business of WellsCanning, an investment advisory firm specialising in the insurance industry. The principals and consulting staff of WellsCanning have joined Towers Watson’s Investment business in New York.

WellsCanning’s expertise in enterprise-based asset allocation solutions for insurance and reinsurance companies - as well as the development and implementation of risk management strategies to protect capital - make it a natural, complementary fit for Towers Watson’s Investment business, according to Christopher DeMeo, Head of Towers Watson’s Investment business in the Americas.

Chris Ford, EMEA head of Investment at Towers Watson, said: “WellsCanning is an excellent complement to our existing expertise in the UK and Europe and will strengthen our services to insurance clients and prospects here. This development follows our recent acquisition of EMB - a leading non-life consulting and software company – and underlines our commitment and the resources available to support both the asset and liability risk sides of insurers’ businesses.”

Founded in 1995 by Karen Wells and Andrew Canning, the Valhalla, N.Y.-based firm is a registered investment advisor providing investment consulting to U.S.-domiciled, offshore and international insurance companies. In addition to its work with general property & casualty (P&C) and life insurers, the WellsCanning team adds depth in various industry sectors, including health care and hospital groups, as well as workers compensation and state insurance funds.

“We are pleased to join a global company that has such a strong position in the insurance industry,” said Wells. "WellsCanning clients will gain access to Towers Watson’s consulting and analytical capabilities, and extensive research capabilities for asset managers, asset classes and regulations, among other areas.”

Wells noted that the WellsCanning team shares Towers Watson’s commitment to offer independent, objective investment advice.

Background Information

Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets.

We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance.

Together, we unlock potential.