Towers Watson

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Template:Short description Template:EngvarB Script error: No such module "Unsubst". Script error: No such module "Infobox".Script error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". Towers Watson & Co. was a global professional services firm that provided risk management services, human resource consulting, actuarial services, and investment management. The company operated in 37 countries. Customers included 92% of Fortune Global 500 companies and 84% of Fortune 1000 companies.[1]

In 2016, the company was acquired by Willis Group in a merger of equals to form Willis Towers Watson.

History

Towers Watson was formed on January 4, 2010, by the $4 billion merger of equals of Towers Perrin and Watson Wyatt Worldwide. The merger created the largest employee-benefits consulting firm by revenue worldwide.[2][3][4][5]

Watson Wyatt Worldwide was formed by the 1995 alliance and 2005 merger between R. Watson & Sons (founded in 1878 by Reuben Watson) and The Wyatt Company (founded in 1946 by Birchard E. Wyatt).[6][7][8][9] Towers, Perrin, Forster & Crosby was established in the U.S. in 1934: in 1987, the company shortened its name to Towers Perrin.[6]

In February 2011, Towers Watson acquired EMB Consultancy. EMB specialized in property & casualty consulting. EMB also had software dealing with pricing, reserving, spatial smoothing analysis, capital and risk modelling.[10][11]

In May 2012, the company acquired Extend Health, a provider of health-care insurance services and the operator of the largest private Medicare health insurance marketplace, for $435 million.[12][13] In September 2013, IBM signed a contract to use the Extend Health platform for insurance services for it U.S retirees.[14]

In November 2013, the company sold its reinsurance brokerage business to Jardine Lloyd Thompson for $250 million.[15][16] That month, it also acquired Liazon, operator of the Bright Choices private health insurance marketplace, for $215 million.[17]

In May 2015, the company acquired Acclaris, a provider of software and services for consumer-driven health care and reimbursement accounts such as health savings accounts, for $140 million.[18][19]

In July 2015, the company sold its human resources service delivery practice to KPMG.[20]

In September 2015, the company acquired Brovada Technologies for $15 million.[21][22]

In 2016, the company was acquired by Willis Group in a merger of equals to form Willis Towers Watson.[6][23][24]

References

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