Polish insurance broker, Brokerskie Centrum Ubezpieczeniowe (AMA) has been acquired by Willis Europe for an undisclosed amount, which is expected to strengthen its foothold in the Polish market in the wake of expanding employee benefits and construction sectors.
The terms of the 100% acquisition were not disclosed, however, around 12 BCU AMA staff will be transferred to the Willis’ office in Warsaw.
Willis Polska CEO Jacek Cichy said the acquisition would benefit its clients in mitigating their exposure to risk through organic insurance programmes.
"In addition, BCU AMA’s clients will also benefit from access to a much broader range of services, backed by the vast global resources of Willis Group, in areas like Energy, Marine, Aviation and Financial and Executive risks," Cichy added.
According to IMF, the employment growth in the Polish market is set to increase due to major civil engineering projects in the Polish construction market, which is estimated to increase by 11% in 2011.
BCU AMA, established in 1998, focuses on specialty insurance lines and providing insurance brokerage services to the expanding employee benefits and construction industries.
Willis Polska, a wholly-owned subsidiary of Willis Europe, has three offices in Poland with 47 employees. Willis Group Holdings has more than 400 offices in 120 countries, with a global team of 17,000 associates.