Willis sees strong growth potential

UK broker Willis (NYSE: WSH) is in an "excellent" position to grow in the Colombian market despite the sluggish growth of the local economy, Colombian press reported Willis CEO Joe Plumeri as saying. "[Willis'] Colombian business is one of the largest in Latin America, surpassing both Argentina and Brazil," the executive said. Willis has direct operations in Chile, Mexico, Venezuela, Colombia, Brazil and Argentina as well as local correspondents in almost every Latin American country. Willis' Colombian business has seen good results this year and expects continued solid growth due to an improvement in inflation and Colombia's GDP, according to Plumeri. With its subsidiaries, Willis Group Holdings provides risk management consulting and insurance brokerage services to over 50,000 clients worldwide in various industries, including the aerospace, marine, construction and energy industries. Willis is the third largest insurance broker both in the world and in Latin America.