LONDON, Feb. 17, 2014 (GLOBE NEWSWIRE) -- Willis Group Holdings (NYSE:WSH), the global risk adviser, insurance and reinsurance broker, is pleased to announce that the Willis Transaction Services Team, part of Willis FINEX Global, provided insurance advice for five of the top ten biggest real estate deals in the UK last year.
The largest property deals in 2013 according to leading commercial property resource, Estates Gazette Interactive's London Offices Database were:
|More London||St Martins Property Corporation||£1.7bn|
|Shell Mex House||Sirosa||£610m|
|Ropemaker Place||AXA Real Estate Investment||£472m|
|The St Botolph Building||Deka Immobilien Investment||£470m|
|Paddington Central||British Land||£470m|
|Devonshire House||Ponte Gadea Group||£400m|
|5 Canada Square||St Martins Property Corporation||£383m|
|King's Cross Central||AXA Real Estate Investment||£318m|
|30 Gresham Street||Deutsche Asset Management||£310m|
Commenting on the successful year, Brian Hendry, Executive Director, Willis Transaction Services, said: "We have seen that the involvement of transaction insurance services across the full spectrum of Real Estate transactions continues to increase. The use of this insurance product and advice in such transactions can be an extremely valuable means of bridging the risk requirements between buyers and sellers in a deal negotiation."
About Willis Transaction Services Team
The Transaction Services Team is part of Willis FINEX Global, a division of Willis providing specialist advice and services to clients for Financial, Executive and Professional Risks. The Transaction Services Team develops traditional Warranty & Indemnity cover for all industry sectors as well as seeking new and innovative ways to mitigate risks arising out of corporate transactions. As part of the services, the team provides tailor-made or bespoke policies to incorporate all or part of coverages including:
- Warranty & Indemnity / Representations & Warranties
- Loss Mitigation/Loss Capping
- Opinion-based Contingent Risk
- Corporate Tax Indemnity
Willis Group Holdings plc is a leading global risk adviser, insurance and reinsurance broker. With roots dating to 1828, Willis operates today on every continent with 18,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation and market-leading products and professional services in risk management and transfer. Our experts rank among the world's leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Find more information at our website, www.willis.com, our leadership journal, Resilience, or our up-to-the-minute blog on breaking news, WillisWire. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world.