Posted on 10 Nov 2010
Towers Watson and EMB, a property & casualty (P&C) consulting and software company, announced today the signing of a definitive agreement for Towers Watson’s acquisition of EMB’s worldwide operations. The completion of the transaction, expected over 60-90 days, is subject to customary closing conditions, including regulatory approvals.
"The EMB acquisition furthers Towers Watson’s strategy to serve clients with increasingly sophisticated risk analytics and consulting solutions,” said Patricia L. Guinn, global leader of Towers Watson’s Risk and Financial Services segment. “The two companies share traditions of professionalism, service quality and innovation, and we look forward to EMB joining the Towers Watson family."
The acquisition will allow for an expanded range of risk modeling software solutions for Towers Watson's clients. EMB’s suite of innovative P&C software tools includes software that helps insurers all over the world in such important areas as financial modeling, pricing and reserving. The suite includes EMB Igloo, EMB Emblem, EMB ResQ and others.
EMB's software expands current Towers Watson's financial modeling software offerings, including RiskAgility, MoSes, Simulum and Pretium.
EMB was founded in 1993 in the U.K. as the first actuarial consultancy dedicated to P&C insurance and the development of high-performance actuarial software. Its core expertise in non-life insurance analytics has since expanded to other areas, including business consultancy, marketing sciences and enterprise risk management. EMB will become part of Towers Watson’s Risk Consulting and Software practice