Towers Watson has boosted its investment services for insurers and reinsurers with the acquisition of investment advisory firm WellsCanning.
The principals and consulting staff of WellsCanning, which specialises in the insurance industry, have joined the Towers Watson office in New York.
WellsCanning is a "natural fit" for Towers Watson because it specialises in the development and implementation of risk management strategies to protect capital, according to Towers Watson US head of investment Christopher Demeo.
Chris Ford, Towers Watson’s head of investment for Europe, the Middle East and Africa, said the acquisition complemented the company’s existing expertise in the UK and Europe, and would strengthen its services to insurance clients in the US.
"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," Ford added.
