Posted on 02 Feb 2011
Towers Watson has completed its acquisition of EMB, the property and casualty (P&C) consulting and software company, resulting in the formation of the largest non-life actuarial consultancy in Europe and one of the largest in the world. EMB will now become part of Towers Watson’s global Risk Consulting and Software practice.
Patricia L. Guinn, global leader of Towers Watson’s Risk and Financial Services segment, said: “We are delighted to be able to combine EMB with our risk consulting and software services to offer a much broader range of non-life consulting, software and risk transfer solutions to clients. This will help them address business performance, pricing and distribution, reserving, capital management and enterprise risk management.”
Rory O’Brien, formerly managing partner of EMB, said: “Our clients will find the same advantages plus the broader and deeper resources of a global consulting firm as well as access to risk transfer and other solutions. Linking up with Towers Watson in this way will provide clients with the support and the backing that makes it possible to develop software and consulting solutions at an accelerated pace, while preserving continuity of services.” Mr.
O'Brien will lead Towers Watson’s Insurance Management Consulting practice.
Towers Watson advises more than three-quarters of the world's top insurers and is the fourth-largest reinsurance broker. Its software portfolio includes RiskAgility, MoSes, Simulum and Pretium and the company has more than 400 software clients.
EMB was founded in 1993 in the U.K. as the first actuarial consultancy dedicated to non-life insurance and the development of high-performance actuarial software and advised 28 of the top 30 non-life insurance companies in the world. At the time of the acquisition, it had over 300 employees and software products that include EMB Igloo, EMB Emblem, EMB ResQ which are licensed to 4,000 users in 53 countries.