BREAKING NEWS: Major broker announces latest acquisition

BREAKING NEWS: Major broker announces latest acquisition | Insurance Business

BREAKING NEWS: Major broker announces latest acquisition
Willis Australia has announced its latest acquisition as it looks to build up its presence in Western Australia.

The international brokerage has agreed a deal to buy CKA Risk Solutions, an independent broker based in Perth “with a strong focus on medium to large-sized corporates, especially within the mining and natural resources industry,” the company said in a statement.

The deal will see the combined business become one of the largest corporate insurance broking firms in WA, the statement continued, as they will employ 65 members of staff and work out of the existing CKA office and initially trade as CKA Willis.

CKA director, Stuart McLean, will become Western Australia general manager for the newly combined company and will join the operating committee of Willis Australasia, the company confirmed.

Roger Wilkinson, CEO of Willis Australasia, said that the CKA deal represents a big change for the local presence of the company as they look to strengthen their business in WA.

“This is the biggest change for Willis Australia in many years and gives us a leading position in the western region, where we see high growth potential, especially in natural resources,” Wilkinson said.

“CKA is a hugely respected business with a skilled team posting consistently strong results in a challenging sector. They have an outstanding customer-first ethos and many of their clients will benefit from the global service and expanded range of risk solutions that Willis can offer.

“Willis and CKA have a firm foundation of shared values and a common culture. That will be critical in helping drive us forward as we develop our business together.”

One of CKA’s founding directors, John Carrigg, said that the deal will benefit both firms as they look to grow together in a competitive market.

“After 11 years of client-focussed service delivery and sustained business growth from our Western Australian base, we were keen to accelerate the expansion of our business nationally and internationally, along with strengthening our footprint in Western Australia,” Carrigg said.

“In Willis, we believe we’ve found the ideal partner. We are excited by the benefits and opportunities that this partnership will bring to our clients, prospective clients and staff.

“Specifically, we are excited by the prospect of a unique and powerful business that combines CKA’s well-known customer-first ethos, together with the Willis commitment to client advocacy and integrity, its geographic depth and its associated resources and expertise.”

The terms of the deal were not disclosed.