A history of shared values
A strong client focus, an emphasis on teamwork, unwavering integrity, mutual respect and a constant striving for excellence are the values at the core of Willis Towers Watson’s rich history. Many of our clients have been with us from our earliest days. Whether they first came to us for brokerage services or actuarial work, they were met with respect, a strong sense of advocacy and an emphasis on excellence. These values will continue to define our approach to business and our relationship with our clients, now and in the future.
The birth of insurance broking and the actuarial profession
1828
Henry Willis began his career as a merchant selling imported goods on commission in the U.K. at the Baltic Exchange in London.
1841
Willis applied for membership of Lloyd’s, where he started to broker insurance for the cargoes of commodities he sold on commission. As his enterprise grew, he became involved in the hull business, establishing himself in marine insurance and founding Henry Willis & Company.
1865
Predecessor actuarial consulting firm Fackler & Co. was founded in New York.
1878
Reuben Watson formed R. Watson & Sons, the world’s oldest actuarial firm, when the Manchester Unity of Oddfellows appointed him actuary the same year. Manchester Unity remains a client today — as do many of our earliest actuarial and brokerage clients.
1889
David Parks Fackler helped create the Actuarial Society of America, a predecessor of today’s Society of Actuaries. The company’s consulting actuaries have a long history of involvement in professional societies, serving on committees and boards, and helping shape the actuarial profession. Today, we remain one of the world’s largest employers of actuaries.
Establishing ourselves at the forefront of our industries
1896
Henry Willis & Co. developed a relationship with U.S.-based Johnson & Higgins, which provided Willis access to the U.S. market.
1898
Henry Willis & Co merged with Faber Brothers to form Willis, Faber & Co and developed a huge marine account, reputedly the largest broking portfolio in the world.
1928
Willis Faber & Company merged with Dumas & Wylie Limited to form Willis, Faber & Dumas.
1910s
After the passage of the National Insurance act of 1911, R. Watson & Sons became the lead advisor to the U.K. government on national insurance programs.
1920s
Walter Forster, a founder of a predecessor company and known as the “father of pension planning,” sold one of the first major insured pension plans to Eastman Kodak Company.
1934
Towers, Perrin, Forster & Crosby (TPF&C) was founded. It initially operated a reinsurance and life division, eventually specializing in pensions, reinsurance brokerage and employee benefit plans.
Adapting to an increasingly connected world
1943
Birchard Wyatt formed the Wyatt Company, an actuarial consulting firm, in Washington, D.C.
1950
Fackler & Co. was acquired by the Wyatt Company.
1950s and beyond
Private pensions continued to grow in popularity, leading to a boom in actuarial business on both sides of the Atlantic, and solidifying our position among the largest actuarial consulting forces in Europe and North America.
1960s
TPF&C expanded its services to include health care, compensation and organizational consulting
1976
Willis, Faber & Dumas listed on the London Stock Exchange, signifying its status as the leading U.K. specialty broker.
Expanding globally and adding capabilities
1970s and 1980s
Regulatory change and rising employee benefit costs in the U.S. spurred a further need for actuarial expertise.
1980s
Willis’ reinsurance business expanded and eclipsed marine broking for the first time.
1986
Towers, Perrin, Forster & Crosby acquired Atlanta-based Tillinghast, Nelson & Warren.
1987
Towers, Perrin, Forster & Crosby was renamed Towers Perrin.
1990
Willis, Faber & Dumas entered the U.S. as a retail broker through a merger with Corroon & Black, establishing it as the world’s fourth-largest insurance broker.
1995
R. Watson & Sons and The Wyatt Company forged an alliance, forming Watson Wyatt and consolidating their global resources.
1995
Willis acquired a 33% stake in French broker Gras Savoye.
1997
Willis Corroon was privatized by Kohlberg Kravis Roberts in a $1.4 billion deal.
1998
Willis operations were amalgamated under one name: Willis Group.
2000
Watson Wyatt was listed on the New York Stock Exchange.
Helping our clients succeed in a more uncertain world
2001
Willis Group was listed on the New York Stock Exchange and experienced strong growth.
2006
Willis Research Network was launched as the world's largest collaboration between academic institutions and the finance sector.
2008
Willis Group’s U.S. presence was doubled with a $2.1 billion Hilb Rogal & Hobbs acquisition.
2010
In a merger of equals, Towers Perrin and Watson Wyatt combined to form Towers Watson.
2012
Towers Watson acquired Extend Health and entered the private health care exchange market in the U.S.
2015
Willis Group exercised its right to acquire the remainder of Gras Savoye and agreed to purchase 85% of Miller, the leading London independent wholesale insurance broker.
2016
Willis Group and Towers Watson merged to become Willis Towers Watson.