WTW to acquire ARESS brokerage business in Colombia

WTW has agreed to acquire the insurance brokerage business of Colombia’s ARESS Corredores de Seguros. Financial terms were not disclosed.

Founded in Medellín in 1967, ARESS specializes in risk management, insurance brokerage and consulting. The firm has grown alongside companies within the Ardila Lülle Organization.

The acquisition will expand WTW’s Colombian client base and service offering as part of its growth strategy in Colombia and Latin America.

Margarita López, WTW’s Colombia country head, pointed to ARESS’s risk management expertise and longstanding client relationships as key reasons for the transaction.

Closing is subject to approval from Colombia’s Financial Superintendency and other customary conditions. WTW and ARESS will continue operating independently until completion.