Willis Towers Watson has completed its acquisition of TRANZACT, a provider of direct-to-consumer sales and marketing solutions for individual Medicare and life insurance policies in the US, from investment firm Clayton, Dubilier & Rice (CD&R).
TRANZACT, which employs approximately 1,300 individuals, including 850 licensed agents, has seen rapid growth in its core Medicare markets under CD&R’s ownership.
The company connects individual consumers to US insurance carriers and helps consumers identify the right insurance option for their needs.
Stephen Shapiro, partner at CD&R, said TRANZACT is a “textbook example of an innovative service business, underpinned by cutting edge technology and analytics”.
He said integration into the Willis Towers Watson platform will open up significant new opportunities for TRANZACT’s future growth.
Willis Towers Watson acquired the firm for $1.3bn (£1.07bn).