Towers Watson today announced that it has acquired the business of WellsCanning, an investment advisory firm specializing in the insurance industry. The principals and consulting staff of WellsCanning have joined Towers Watson’s Investment business in New York.
WellsCanning’s expertise in enterprise-based asset allocation solutions for insurance and reinsurance companies as well as the development and implementation of risk management strategies to protect capital make it a natural, complementary fit for Towers Watson’s Investment business, according to Christopher DeMeo, Head of Towers Watson’s Investment business in the Americas.
“The WellsCanning team adds to Towers Watson’s insurance industry and investment resources that span both sides of the business asset and liability and strengthens our ability to provide investment advice to our clients at a time of unusual market volatility and regulatory change,” said DeMeo. “We are extremely pleased to welcome the WellsCanning team to Towers Watson.”
Founded in 1995 by Karen Wells and Andrew Canning, the Valhalla, N.Y.-based firm is a registered investment advisor providing investment consulting to U.S.-domiciled, offshore and international insurance companies. In addition to its work with property & casualty (P&C) and life insurers, the WellsCanning team adds depth in various industry sectors, including health care and hospital groups, as well as workers compensation and state insurance funds.
“We are pleased to join a global company that has such a strong position in the insurance industry,” said Wells. "WellsCanning clients will gain access to Towers Watson’s consulting and analytical capabilities, and extensive research capabilities for asset managers, asset classes and regulations, among other areas.”
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