(Bloomberg) -- Willis Group Holdings Plc, the insurance broker that’s merging with consulting firm Towers Watson & Co., advanced in New York trading after it was named to join the Standard & Poor’s 500 Index.
Willis climbed 4.8% to $49.30 at 9:45 a.m., the most in the 330-member S&P North American Financial Services Sector Index, after rising about 5% this year through Monday. The broker will replace Fossil Group Inc. in the index after regular trading on Jan. 4, S&P said in a statement Monday. The transaction is expected to be completed in early 2016, when Willis Towers Watson Plc will trade under the ticker symbol WLTW.
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