Willis Towers Watson, a leading global advisory, broking and solutions company, announced today that following the satisfaction of customary closing conditions and receipt of regulatory approval, it has completed its acquisition of TRANZACT, a direct-to-consumer health care organization that links individuals to U.S. insurance carriers.
TRANZACT will operate as an integral part of Willis Towers Watson’s Benefits Delivery and Administration (BDA) business, which focuses on the development and delivery of administrative solutions for employers, employees and retirees. The company will continue to use the TRANZACT brand in the market.
“We are happy to announce that Willis Towers Watson has closed its acquisition of TRANZACT,” said Gene Wickes, head of Willis Towers Watson’s BDA segment. “We are excited to welcome the TRANZACT team into Willis Towers Watson and work together to further their capabilities and proven success in the direct-to-consumer U.S. health care market — a significant growth opportunity for us going forward.”
TRANZACT markets a wide breadth of products, including Medicare Advantage, Medicare Supplement and Prescription Drug Plan, as well as an array of ancillary products, including dental, vision, life and indemnity. TRANZACT employs approximately 1,300 individuals, including 850 licensed agents.
About Willis Towers Watson
Willis Towers Watson is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 45,000 employees serving more than 140 countries and markets. We design and deliver solutions that manage risk, optimize benefits, cultivate talent, and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.