Willis Group Acquires CGI Consulting; Strengthens Employee Benefits Pr

    Business Editors/Human Resources Writers

    NEW YORK--(BUSINESS WIRE)--Feb. 22, 2005--Willis Group Holdings (NYSE:WSH), the global insurance broker, announces today the acquisition of CGI Consulting, Inc., an employee benefits firm offering a range of benefits services and administrative solutions to mid-size companies predominantly in the mid-Atlantic and northeast region of the United States. CGI has annual revenues of approximately $7 million; terms of the transaction were not disclosed. It is expected to close at the end of February.
    With new leadership, strong recruiting, our existing employee benefits technology solutions, and the recent acquisition of PRIMARY Worldwide, a California-based employee benefits firms, Willis' Employee Benefits Practice has enjoyed significant growth over the last several years. CGI, headquartered in Malvern, PA, further strengthens the national practice and offers great synergies.
    "CGI has built a strong business based on listening to clients, understanding their needs and then developing and delivering solutions aimed at their core issues," said Joe Plumeri, Chairman and CEO of Willis. "This is consistent with the Willis Client Advocate model of customizing our services to fit the client's unique circumstances. The culture is a great fit and the acquisition is a clear illustration of our commitment to grow our Employee Benefits Practice as well as consistent with our overall strategy of building key practice groups which we have identified as having strong growth potential."
    "Combining our current online benefits management capabilities with CGI's written communication, benefits administration and call center services, the acquisition significantly enhances our in-house capabilities to offer clients the complete range of benefits consulting, services and solutions," said Rick Elliott, Willis' Employee Benefits Practice Group Leader. "Further, the CGI business model and that of Willis' Employee Benefits Practice are a complementary match in terms of addressing client needs in the 21st century: managing costs; reducing HR workload; and educating and training employees."
    "Health care costs continue to climb, administrative functions have been paper-intensive and increasingly, companies are looking to their benefits consultants for enhanced solutions," said Harriet Hankin, Principal and President of CGI. "This union empowers us to solve our clients' problems and grow our business with an exciting combination of strengths."
    As time and resource pressures over the last few years have increased in the human resource departments - perhaps most significantly in middle market companies - benefits professionals have been challenged to increase efficiencies and develop innovative solutions to a range of administrative tasks. Led by an experience management team, CGI brings a strong component of those solutions to its clients and now, in combination with Willis, the platform of services will be rolled out to Willis clients across the United States.
    Willis Group Holdings Limited is a leading global insurance broker, developing and delivering professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. With over 300 offices in over 100 countries, its global team of 14,500 associates serves clients in some 180 countries. Additional information on Willis may be found on its web site www.willis.com
    CGI Consulting Group, Inc., based in Malvern , PA, is a leader in designing, implementing, and managing employee benefit strategies, as well as in providing a broad range of outsourcing services for mid-size firms throughout the country. The company provides for innovative, unique solutions based upon our client's specific needs. It's mission to provide the best value in the benefits management business today. Additional information on CGI may be found on its web site www.cgiconsulting.com.

--30--JTP/ny*

CONTACT: Willis Group Holdings Investors: Kerry K. Calaiaro, 212-837-0880 calaiaro_ke@willis.com or Media: Dan Prince, 212-837-0806 prince_da@willis.com

KEYWORD: PENNSYLVANIA NEW YORK INDUSTRY KEYWORD: INSURANCE HUMAN RESOURCES MERGERS/ACQ SOURCE: Willis Group Holdings

Copyright Business Wire 2005