Talbot Assumes Willis' Utah Operations
By Mark E. Ruquet
NU Online News Service, July 2, 8:55 a.m. EDT ?Insurance broker Talbot Agency Inc., in Albuquerque, N.M., said it has assumed the servicing rights to the retail property-casualty and employee benefits accounts of the Willis Group Holdings Salt Lake City, Utah, office.
Talbot said it would continue the operation with existing staff under the Talbot name.
Details on the transaction were not released.
Willis will still retain business operations in Salt Lake City, mainly its Ski Program Business and Owner Controlled Insurance Program, a construction practice. Neither operation competes with Talbot, the firm said in a statement.
Talbot Agency maintains 65 offices, primarily in the western states, collecting more than $3 billion in annual premiums.
Dan Prince, director of communications for London-based Willis, said the agreement is "not indicative of any larger strategy by Willis. It is a single market specific decision."
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