Willis North America, a unit of Willis Group Holdings, entered into a definitive agreement to acquire the assets of Avalon Actuarial Inc., a Canadian employee benefits brokerage and actuarial consulting services firm. Avalon Actuarial’s 45 employees and leadership team will join Willis North America’s Canadian operations and continue to serve clients from its existing offices in Montreal and Toronto. Willis Canada includes offices in Toronto, Vancouver and Calgary and is supported by more than 200 employees. The transaction is expected to close in the fourth quarter.
Terms of the transaction are not disclosed. Since 1990, Montreal-based Avalon Actuarial has provided products and services focused on group insurance, retirement and pension plans and other risk management services for corporations and public entities.