Willis North America to Acquire Actuarial Firm

Willis North America, a unit of Willis Group Holdings, an insurance broker, has entered into a definitive agreement to acquire the assets of Avalon Actuarial Inc., a Canadian employee benefits brokerage and actuarial consulting services firm. The transaction is expected to close in the fourth quarter, and terms are not disclosed.

Willis says Avalon Actuarial provides products and services focused on group insurance, retirement and pension plans, and other risk management services for corporations and public entities. Avalon Actuarial’s 45 employees and leadership team will join Willis North America’s Canadian operations and continue to serve clients from its existing offices in Montreal and Toronto. Willis Canada includes offices in Toronto, Vancouver and Calgary and is supported by more than 200 employees.

Following the transaction, Avalon’s Jean-Robert Elie will serve as EVP and Canadian human capital practice leader; Christine Panet-Raymond will serve as EVP, non-traditional covers; and Claude Emond will serve as a consultant to Willis. They will all report to Rick Hynes.