Willis Acquires Vision Insurance Group
NU Online News Service, Jan. 5, 12:28 p.m. EST?Willis Group Holdings Limited announced the acquisition of Vision Insurance Group, a risk management and insurance brokerage firm based in Montgomery, Ala.[@@]
Vision, founded in 2000 by Bruce W. Hodges, provides a full range of commercial lines and employee benefits broking services, as well as risk management services, to medium and large businesses in a variety of fields.
The company handles the business of companies involved with news and entertainment, airline, recreation, technology, resort and commercial rental property, manufacturing, construction, transportation and other lines. The group reported revenues of $3 million in 2003.
As part of the agreement, Willis will extend employment agreements to several Vision associates. Vision will continue to operate under a long-term sub-broker agreement with Willis.
Additional terms of the transaction were not disclosed.
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