May 30, 2003 by Canadian Underwriter
Insurance broker Willis says it is forming a special unit to capitalize on the risk market created by the rebuilding of Iraq following its invasion by U.S.-led forces.
The company says more than US$10 billion in reconstruction projects are expected to begin within the next five years, providing a market for risk and insurance services.
Willis will form the new unit within its existing construction risk practice.
“Willis has been a major broker in the Construction sector in the Middle East for many years”, says David Turner, chief executive of Willis’ U.K. construction practice.