Charles Monat Associates – Management Buyout from Willis Towers Watson

HONG KONG, May 9 -- Willis Towers Watson, an advisory, broking and solutions company, issued the following news release:

The management of Charles Monat Associates (CMA), one of the largest independent life insurance practices in Asia, announced today that it has agreed to a management buyout (MBO) for CMA to acquire 100 percent of the Global Wealth Solutions business of Willis Towers Watson (NASDAQ: WLTW), the leading global advisory, broking and solutions company, subject to regulatory approval.

Following the MBO, Charles Monat Associates will have more than 130 employees worldwide with offices in Hong Kong, Singapore, Miami, Zurich and Liechtenstein. According to CMA's Global CEO, Yves Guelat, the MBO will create a unique business structure for servicing the increasingly complex financial needs of wealthy families and businesses. As part of the MBO, CMA will have an arrangement with Willis Towers Watson for ongoing access to, and sales of, services and insurance products globally.

"CMA is a highly evolved business with a 46-year history. We work with some of the wealthiest families via our offices in Asia and around the world. As an independent firm with an ongoing business relationship with Willis Towers Watson, we will be even better positioned to deliver wealth protection strategies catering to the very specific needs of our high net worth individual clients," said Guelat.

Charles Monat, Chairman and founder of the company, said: "I am delighted to be part of the company's growth and expansion and pleased to see the firm continue to serve several generations of clients worldwide."

Adam Garrard, Head of International at Willis Towers Watson, said: "Willis Towers Watson supports the CMA management team's vision for its future growth. CMA is a leader in this unique client segment because of its rich history in Asia and beyond. Willis Towers Watson is pleased to have agreed an ongoing business relationship with CMA which we believe gives our respective clients access to one of the most unique insurance offerings in the market."

About the transaction

The financial terms of the transaction have not been disclosed and remain subject to regulatory approval.

The management of Charles Monat Associates will acquire 100 percent of the international business of Global Wealth Solutions under the legal entity Charles Monat Associates. The domestic business of Global Wealth Solutions which comprises the EU domestic offering will be operated through the global network of Willis Towers Watson.

Following the transaction, Willis Towers Watson and CMA will enter into a global arrangement to ensure that Global Wealth Solutions clients have access to a global platform to service them on a truly worldwide basis. CMA will continue to have access to a wide range of human capital and risk management specialist services of Willis Towers Watson.

About Charles Monat Associates

Charles Monat Associates is a leading global insurance broker with more than 130 professionals operating in Hong Kong, Singapore, Miami, Liechtenstein and Zurich. Founded in 1971 by Charles S. Monat, the company has established a reputation as Asia's most trusted premier consultancy. With 46 years of experience, Charles Monat Associates delivers world class expertise in liquidity planning and wealth transfer for individuals, families and businesses.

Yves Guelat is the global CEO at Charles Monat Associates. Previously, he was CEO of the Willis Towers Watson wealth business he launched in 2012.

About Willis Towers Watson

Willis Towers Watson (NASDAQ: WLTW) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 40,000 employees serving more than 140 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas - the dynamic formula that drives business performance. Together, we unlock potential.