Towers Watson, a leading global professional services company, today announced that it has acquired the business of WellsCanning, an investment advisory firm specializing in the insurance industry. The principals and consulting staff of WellsCanning have joined Towers Watson’s Investment business in New York.
WellsCanning’s expertise in enterprise-based asset allocation solutions for insurance and reinsurance companies as well as the development and implementation of risk management strategies to protect capital make it a natural, complementary fit for Towers Watson’s Investment business, according to Christopher DeMeo, Head of Towers Watson’s Investment business in the Americas.
“The WellsCanning team adds to Towers Watson’s insurance industry and investment resources that span both sides of the business asset and liability and strengthens our ability to provide investment advice to our clients at a time of unusual market volatility and regulatory change,” said DeMeo. “We are extremely pleased to welcome the WellsCanning team to Towers Watson.”
Founded in 1995 by Karen Wells and Andrew Canning, the Valhalla, N.Y.-based firm is a registered investment advisor providing investment consulting to U.S.-domiciled, offshore and international insurance companies. In addition to its work with property & casualty (P&C) and life insurers, the WellsCanning team adds depth in various industry sectors, including health care and hospital groups, as well as workers compensation and state insurance funds.
“We are pleased to join a global company that has such a strong position in the insurance industry,” said Wells. "WellsCanning clients will gain access to
Towers Watson’s consulting and analytical capabilities, and extensive research capabilities for asset managers, asset classes and regulations, among other areas.”
Wells noted that the WellsCanning team shares Towers Watson’s commitment to offer independent, objective investment advice.
WellsCanning is a registered investment advisor providing investment consulting to a diverse client base of life, health and P&C clients ranging from $50 million to $7 billion in assets, located both in the U.S. and offshore. The company’s clients range from mutuals, to stock companies, to captives, and write a wide variety of business, including life P&C, reinsurance, health, medical malpractice and workers compensation.
About Towers Watson Investment
Towers Watson’s Investment business is focused on creating financial value for the world’s leading institutional investors through its expertise in risk assessment, strategic asset allocation and investment manager selection. It is a division of Towers Watson’s Risk and Financial Services business, has over 700 associates worldwide and assets under advisory of over US$2.1 trillion. In the United States, investment advisory and investment consulting services are provided by Towers Watson Investment Services, Inc., a subsidiary of Towers Watson & Co. Towers Watson Investment Services, Inc., is a registered investment advisor with the Securities and Exchange Commission.
About Towers Watson
Towers Watson is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers solutions in the areas of employee benefits, talent management, rewards, and risk and capital management. Towers Watson has 14,000 associates around the world and is located on the web at www.towerswatson.com.