Global professional services firm Willis Towers Watson has expanded its service portfolio in Puerto Rico with the addition of consulting services to its already existing footprint in brokerage services.
The merger between Willis Group and Towers Watson, closed early this year, has meant that the firms are, as part of their integration roadmap, seeking to either merge their respective office networks or, where possible, top up the service portfolios across their hubs. The US-headquartered firm (Arlington, Virginia) today has more than 39,000 employees in 120 countries, generating revenues of $8.2 billion.
The latest country to see the synergy of the mega deal come its way is Puerto Rico, a country with a population of around 3.5 million. Willis Towers Watson has been doing business in Puerto Rico for many years, through its affiliation with Fulcro Insurance Group, a local services provider based in San Juan. The services fell under the umbrella of Willis Group’s offering, and therefore were geared mainly at the reinsurance and brokerage market.
Last month one of Puerto Rico’s governing bodies, the Insurance Commissioner Office and National Association of Insurance Commissioners, granted Willis Towers Watson the regulatory licensing necessary to expand its operations in the country and open a new office. As part of the expansion drive, the company has broadened its suite of propositions in Puerto Rico to include management, health care and insurance consulting services.
Eric McMurray, US Atlantic and South region lead, Health and Benefits at Willis Towers Watson, says he is “very excited” by the opportunity, adding “We’re pleased to grow the Willis Towers Watson business in Puerto Rico and to introduce consulting services with an emphasis on improving clients’ health plan efficiency and cost control.”
The new office will be headed by Ivette Ortiz, who serves as Health and Benefits practice lead for Puerto Rico. The added business will primarily focus on the design and implementation of health care delivery solutions for large and multinational clients, as well as offer services aimed at employer-sponsored pension plans, and performance measurement and monitoring for talent and reward strategies. “Puerto Rico is very much a relationship-driven market, and our team’s deep local knowledge combined with our ability to leverage Willis Towers Watson’s international resources put us in a great position to facilitate client success,” comments Ortiz.