(Bloomberg) -- Willis Group Holdings Plc, the third-largest insurance broker by market value, agreed to take a majority stake in Miller Insurance Services LLP to add shipping clients.
Willis will take an 85% stake, and partners of Miller will retain the remainder, the London-based buyer said today in a statement that didn’t disclose terms. The deal is expected to be completed next quarter, according to the statement.
Willis Chief Executive Officer Dominic Casserley has been making acquisitions to add clients as he trims expenses by moving jobs to lower-cost locations. Casserley has announced at least seven deals since taking the top post in January of 2013.
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