Life insurance broker Charles Monat Associates (CMA) has agreed to a management buyout (MBO) to acquire 100% of Willis Towers Watson
’s global wealth solutions business.
The deal, which is subject to regulatory approval, will see CMA’s staff count rise to 130 worldwide with offices in Hong Kong, Singapore, Miami, Zurich
, and Liechtenstein.
As part of the MBO, CMA will have an arrangement with Willis Towers Watson
for ongoing access and sales of services and insurance products around the world.
Yves Guélat, current CMA global CEO and former CEO of the Willis Towers Watson
wealth business, said that the deal will help the firm positon itself better for clients.
“As an independent firm with an ongoing business relationship with Willis Towers Watson
, we will be even better positioned to deliver wealth protection strategies catering to the very specific needs of our high net worth individual clients,” Guélat said.
With close to 50 years’ experience in the market, CMA works with some of the wealthiest families and businesses in Asia and around the world for their unique insurance needs.
Adam Garrard, head of international Willis Towers Watson
, said that the international brokerage supports CMA’s global growth aims.
“Willis Towers Watson
is pleased to have agreed an ongoing business relationship with CMA which we believe gives our respective clients access to one of the most unique insurance offerings in the market.”
Financial details of the deal were undisclosed.
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